Wednesday
August 3
2022

Foodtech Startup Greens Secures Pre-Seed Funding From East Ventures

Greens, an integrated food technology startup that is transforming Indonesia’s food system, announced that it has secured an undisclosed amount of pre-seed funding in a round led by East Ventures. Other investors also participated in this round.

Andi Sie, chief executive officer of Greens, said the investment from East Ventures serves as a strong testament of Green’s mission where it aims to enable integrated food technology to bring about a new food ecosystem that will further improve the way people grow and obtain their food.

According to Greens, Indonesia loses up to 48 million metric tonnes of food annually, for the most part due to inefficient processing, storage, transportation, and selling of food crops.

It said as a country with abundant agricultural resources, Indonesia experiences high risk of soil erosion. This poses a threat to food security as the lack of organic content in the soil harms yields, which can lead to malnutrition and food scarcity.

Photo courtesy of Aulia Erlangga/CIFOR.

Source: Digital News Asia (link opens in a new window)

Categories
Agriculture, Entrepreneurship, Technology
Tags
agriculture, entrepreneurs, food security, food systems, startups, technology