Chickin, a startup focused on poultry farming, has successfully raised $20 million in its recent Series A+ funding round to accelerate its business growth. This total includes $15 million in equity and $5 million in debt, equivalent to approximately Rp315 billion.

The funding round attracted several prominent investors, including Granite Asia, Integra Partners, the Asian Development Bank, 500 Global, East Ventures, and Aksara Ventures. While Chickin executives have confirmed this new funding, they have not disclosed specific details regarding the allocation of funds or future targets.

Integra Partners announced its participation in the funding round, expressing pride in supporting founders who possess extensive industry knowledge and operational expertise capable of driving transformative change. Chickin aims to tackle the challenges poultry farmers face, such as price fluctuations and limited access to financing.

The startup offers innovative solutions like technology-based farming contracts, IoT-enabled farm management, and user-friendly platforms, empowering tens of thousands of farmers in Indonesia. These solutions help improve efficiency, production yields, and financial stability. A representative from Integra Partners noted, "Beyond financial gains, Chickin's mission aligns with our commitment to impact investing, promoting financial inclusion, food security, and sustainability. We are excited to support this venture in Indonesia's rapidly growing poultry sector."

Founded in 2018 in Klaten, Central Java, by Ashab Al Kahfi, Tubagus Syailendra, and Ahmad Syaifulloh, Chickin has made significant progress since its inception. In 2022, it secured initial funding led by East Ventures, with support from 500 Global and GK-Plug and Play.

According to data from its website, Chickin’s Smartfarm solutions are now used by nearly 10,000 farmers, managing a combined population of over 31 million chickens. The company has also equipped more than 250 farms with IoT technology to enhance productivity. Additionally, Chickin Fresh has distributed 7.9 million kilograms of chicken across various regions in Indonesia.

The Indonesian Policy Study Center reports that the poultry industry employs over 10% of the workforce and supplies 65% of the country's animal protein. Despite increasing consumption, per capita chicken consumption in Indonesia remains relatively low compared to other Asian nations, indicating significant growth potential. This opportunity is further supported by the rise of fast-food chains and government initiatives aimed at increasing protein intake to combat stunting.

Recognizing this potential, several startups are working to democratize the poultry sector. For example, Pitik previously received funding from Alpha JWC Ventures and MDI Ventures, although recent reports indicate that their business may be facing challenges and considering a pivot. Another competitor, BroilerX, is backed by Insignia Ventures Partners, Saison Capital, and other investors, and is also targeting the Central Java and Yogyakarta regions, similar to Chickin.

DAILYSOCIAL.ID