Aruna raises US$30 million in follow-on Series A funding, with participation from Prosus Ventures

Aruna raises US$30 million in follow-on Series A funding, with participation from Prosus Ventures

JAKARTA, INDONESIA, 27 January 2022 - Aruna, Indonesia’s leading fishery and marine platform, has announced a US$30 million Series A follow-on funding led by Vertex Ventures Southeast Asia & India. The round also saw participation from existing investors Prosus Ventures, AC Ventures, East Ventures (Growth Fund), Indogen Capital, SMDV and SIG Venture Capital. This brings the total Series A funding raised to US$65 million (approx. 1 trillion IDR).

Aruna will use the fresh funds to expand into new geographies in Indonesia and enlarge its market share in the global market. The funding will also be used to invest and bolster hiring to support its goal of building end-to-end technology infrastructure and sustainable fishery practices.

Founded in 2016, Aruna acts as a one-stop-shop and end-to-end supply chain aggregator that streamlines the process for Indonesia's fishermen to access a global network. The company has witnessed tremendous success over the past five years, having grown 400x from 2017 to 2021, and the existing demand for supply from Aruna’s platform outstrips the current supply by more than five times.

"The follow-on funding round indicates investor confidence in Indonesia’s potential as the largest maritime country and validates Aruna as the leading startup in this sector. Aruna remains committed to continuing to build a broader impact for Indonesian people, especially those in the coastal communities. This is aligned with the government's focus on bolstering an inclusive and sustainable economy by accelerating technology adoption across the country. We have a vision of making Indonesia the centre of the world's maritime economy and we hope to achieve this by revolutionising the marine and fisheries industry chain, encouraging financial inclusion, and promoting sustainable fishing industry practices," said Farid Naufal Aslam, CEO of Aruna.

The sizable follow-on funding highlights investors' belief in the company's growth potential and strong business fundamentals amidst the pandemic. Echoing this sentiment, Chua Joo Hock, Managing Partner of Vertex Ventures Southeast Asia & India said, “We are proud to be backing Aruna, which is transforming the lives of many fishermen and fish farmers in Indonesia as well as the region. Aruna has grown extremely well over the past year and we are pleased to be partnering with Aruna on this meaningful journey. We are not just driving positive impact among fishermen, but also fulfilling the ever-growing global demand for sustainable fishery products."

"Our mission is to make the sea a better livelihood for all by promoting the Sea For All campaign. We will invest in building the infrastructure to support sustainable fishing practices as we believe that profitability should be achieved through balancing the needs of both people and planet," said Utari Octavianty as Chief Sustainability Officer of Aruna.

“Aruna has demonstrated impressive growth as it continues on its mission to transform Indonesia’s fisheries and marine industry,” said Sachin Bhanot, Head of Southeast Asia Investments at Prosus Ventures. “We are excited about their future prospects and equally proud of their impact on the community, industry and the environment, through their abiding commitment to sustainability.”

In 2021, Aruna developed 100 communities of fishermen with over 26,000 registered fisherfolks. Aruna also generated 5,000 job opportunities in the rural areas of Indonesia to support their operations, driving the nation's economic growth. Last year, Aruna sold 44 million kilograms of seafood to more than 8 countries. Currently, the company operates in 27 provinces in Indonesia, representing 70% of the country.

“Aruna’s rapid growth, despite the pandemic, clearly shows their market fit as well as the founders’ leadership to navigate through challenges. We are excited to continue supporting their efforts to promote fishermen's welfare and sustainable fishing,” added Michael Soerijadji, Founder and Managing Partner of AC Ventures.

Roderick Purwana, Managing Partner of East Ventures said, “Aruna has been at the forefront in the fishery and marine industry. Aruna’s vision is aligned with ours to make wide impacts on society and the environment. With its remarkable milestones, we believe that Aruna will grow even bigger.”

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About Aruna

Aruna is a leading fisheries and marine platform in Indonesia which streamlines the process for the country's fishermen by connecting fishing villages with enterprise-scale buyers. In 2021, the startup had more than 26.000 registered fishermen in 75 locations from Sumatra to Papua in Indonesia.

For more information, please visit: https://aruna.id

About Vertex Ventures Southeast Asia and India

Vertex Ventures Southeast Asia and India invest in high-growth start-ups seeking their first round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand, and other emerging hubs of innovation across the region. It has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParent, Validus, Warung Pintar, and others.  Vertex Ventures Southeast Asia and India is part of the Vertex global network of venture capital funds. Its global network also comprises affiliates in Silicon Valley, China, and Israel. A trusted partner to some of the world’s most innovative entrepreneurs, Vertex supports its portfolio companies with unmatched operating experience and deep access to the capital, talent, partners and customers they need to build truly global businesses. For more information, please visit: https://www.vertexventures.sg/

About AC Ventures

AC Ventures is a leading Southeast Asian Venture Capital Firm investing in early-stage startups focused on the Indonesia and ASEAN markets. AC Ventures’ mission is to partner and empower entrepreneurs with more than capital, combining operational experience, industry knowledge, deep local networks, and resources to create value. Our vision is to be a generational partner to founders driving positive societal change and economic impact to Indonesia and beyond through technology-enabled ventures. 

AC Ventures manages over US$380M in AUM invested across four funds. Since 2012, AC Ventures’ Partners have invested in over 100 technology companies in Indonesia and Southeast Asia, including some of the most iconic names in the SEA digital ecosystem. AC Ventures’ Founding Partners, Adrian Li, Michael Soerijadji, and Pandu Sjahrir, lead a team of over 25 professionals with offices in Jakarta and Singapore.

About East Ventures

East Ventures is a pioneering and leading sector-agnostic venture capital firm in Indonesia. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, including Seed and Growth for over 200 companies in Southeast Asia.

An early believer in the startup ecosystem in Indonesia, East Ventures is the first investor of Indonesia's unicorn companies, namely Tokopedia and Traveloka. Other notable companies in the portfolio include Ruangguru, Warung Pintar, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

East Ventures was named the most consistent top performing VC fund globally by Preqin, and the most active investor in SEA and Indonesia.