TLDR:
Elevarm, an Indonesian farming startup, raised $2.6 million from Insignia Ventures Partners and other investors to boost seedling and organic fertilizer production. The company aims to democratize access to farming essentials and contribute to sustainable agriculture solutions.
Elevarm’s revenue increased seven-fold to $11 million in 2023, with expected growth to nearly triple to $30 million in 2024. They plan to scale greenhouse space and upgrade manufacturing technology to meet growing demand from smallholder farmers.
Elevarm’s business-to-business marketplace facilitates crop sales of up to 1,000 tonnes monthly, and the company is focused on bridging technology and tradition in agriculture.
Source: Forbes
