Ekspansi Lokatani Pasca Pendanaan Pre Seed

IDXchannel

Lokatani, startup agritech yang fokus pada pengembangan sayuran hidroponik, berhasil mendapatkan pendanaan pre-seed. Pendanaan ini akan digunakan untuk meningkatkan kapasitas produksi, mengembangkan teknologi pertanian berbasis internet, serta memperluas jaringan distribusi dan pemasaran.  Seperti apa perluasan usaha Lokatani pasca pendanaan?

Transcript

00:00You're back in CreateUp, accompanied by Wiki Adrian's friend.

00:04That's right. And this time, CreateUp will announce the expansion of LOKATANI.

00:07Every pre-seed funding has been connected via video conference.

00:10You're Mas Abdul Holik, founder and CEO of LOKATANI.

00:13How are you, Mas Abdul?

00:15Alhamdulillah, I'm fine. How are you, Mas?

00:18Amazing. Thank you for joining.

00:20Congratulations on the pre-seed funding.

00:22What's the story behind this funding process?

00:26Actually, this funding process started with speed dating

00:32and also related to the search for this pre-seed.

00:38From several meetings with many parties,

00:43we met representatives from ACAP and Jakarta Ventures.

00:49At that time, we had a chat and eventually catch up further.

00:54Then, we did due diligence.

00:57Finally, we agreed to work together to build LOKATANI together.

01:03Okay, so this is the very first funding step, right?

01:07Yes, the very first step for Venture Capital.

01:11So, this is the first funding step, right?

01:13There has never been a pre-seed funding before, right?

01:16Yes, that's right.

01:17Okay, so what does this pre-seed funding process mean?

01:22This is also an inspiration for startup founders out there

01:27to get the funding.

01:30What should be prepared?

01:31What are the strategic steps that were taken at that time?

01:36Yes, so from this funding,

01:39actually, we first presented our business.

01:44What is it?

01:45Actually, usually through pitch deck.

01:47After we present,

01:49if, for example, Venture Capital or the angel investor is interested,

01:55they will ask for due diligence.

01:57This due diligence is usually prepared from the data room

02:02and also usually they will visit,

02:05if we visit the office and the farm,

02:08to see what the IoT is like,

02:10what the farm is like,

02:12and what the partner's farm is like.

02:14So, from there,

02:17after they do the process internally,

02:21and decide how much actually can be put in the valuation,

02:26and also how much actually can be given the funding.

02:29According to Abdul and also maybe the team from Lokatani,

02:33what is it that is attractive from this Lokatani

02:35so that it is supported by funding?

02:39More to the on-demand closed-loop supply chain that we have

02:42and also the ecosystem that is formed from Lokatani itself.

02:45Because indeed, in Lokatani,

02:47all of the farmer's partners plant based on the client's request,

02:52so that there is no crop or crop that is not absorbed, like that.

02:59And also with the schedule planting system,

03:02which is assisted by IoT for monitoring

03:05and also the inventory management system for automation,

03:08it makes us able to harvest every two days, like that.

03:12Right now, we even go to harvest once a day and meet the customer's request.

03:19So, the customer can also get something fresh,

03:22vegetables that are really fresh, like that.

03:25And from the farmers, the cash flow is also smooth,

03:27because they harvest every day,

03:30they don't have to wait a month, two months, or three months,

03:32then harvest everything and wait again, like that, no.

03:35But they really harvest every day, like that.

03:39Okay, so this means that it provides a solution

03:41and also this solution increases demand

03:45and also makes the business from Lokatani more feasible

03:50and the capital vendors are also interested in doing funding.

03:54What kind of funding will be used for?

03:57What is the operational significance of the funding from Lokatani?

04:03Yes, we will continue to expand the market, of course,

04:07to be able to reach a wider market.

04:11Then, on that side, we are also assisted with expansion on the HULU side,

04:17on the side of the farm,

04:18then on the efficiency management side for the process, like that.

04:23So, we will also produce more IoT tools for other farms, like that.

04:29So, this funding is really for how we strengthen

04:33in terms of technology and also in terms of the market, like that.

04:39So far, how many partners have joined Lokatani?

04:43Then, what are the demands from consumers from year to year?

04:48We will discuss it later.

04:50Yes, and stay tuned with us, we will be back soon.

04:53Thank you, Mr. Meersa.

04:54We will continue to discuss with the CEO and the founder of Lokatani,

04:58Mr. Abdul Kholi.

04:59And interestingly, Lokatani has just received the President's Funding.

05:04Maybe this can be an inspiration for you, Mr. Meersa,

05:07to receive funding from the startup that you are building.

05:11How long has Lokatani been established?

05:14And then, how has the development of partners been?

05:19How many?

05:20And also maybe the demands from consumers.

05:24Okay, Lokatani was established in PT, which means this is the fifth year.

05:29Yes, this year is our fifth anniversary.

05:32So, for Mitra, we already have more than 100 hydroponic farmers

05:38in the Jabodetabek area, like that.

05:41And for the customers themselves, the increase from 2022 to 2023

05:48is actually around 107%.

05:51That's amazing.

05:52So, yes, it doubled.

05:54After that, this year, we actually doubled from last year.

06:01So, the market is still very wide, actually.

06:04Okay.

06:05Mr. Abdul, if we learn from TechWinter a few years ago,

06:09where Venture Capital was very selective,

06:12or even stopped the funding for startup companies,

06:16this then has an impact on startup companies that are starting to lay off a lot of their employees.

06:20Specifically in the agri-tech sector, how do you see the funding trend moving forward?

06:25And to what extent is this a trigger for you at Lokatani

06:30to prioritize profitability in the future?

06:34Not just hoping for funding from Venture Capital or angel investors.

06:39Yes, of course.

06:41With the condition of TechWinter yesterday,

06:44there were a lot of difficulties for startups to get funding like that.

06:49But we're sure.

06:52We've been going for five years with bootstrapping,

06:55with our own funding from our own account.

07:00So, what we've been looking for from the beginning is profitability.

07:05So, we use this funding to make us bigger,

07:10expand even bigger,

07:12and also the profitability is getting faster.

07:16Does this mean you're already profiting or are you still chasing the target?

07:20We're still chasing the target of profit.

07:23Because we need it.

07:25You need time.

07:26How much?

07:27How many years is the opportunity?

07:30The target of profitability can be calculated, right?

07:34Yes.

07:35Our fastest target is K3 2025,

07:41with the expansion target that we want.

07:45But the median risk is around early 2026.

07:51Okay, right.

07:52To accelerate profitability,

07:54there are various services that have been upgraded.

07:57Or maybe there are additional services added to the user.

08:01What are they?

08:03Yes, because we play from the beginning to the end,

08:06from farmers to consumers,

08:10the most important thing we upgrade

08:13is how we maintain the quality.

08:15Because we are a premium product,

08:17so what happens is not price-sensitive but quality-sensitive.

08:21So, we will make this technology as a supporting system

08:26to be able to maintain how the vegetables we produce

08:30are really high quality vegetables

08:34and stable in terms of quantity and quality.

08:38Like that.

08:39So, customers won't change their mind

08:43if they are used to consuming high-quality vegetables from us.

08:49Okay, because if it's high quality and consistent,

08:53it will make people buy again.

08:57That's right.

08:58As an inspiration,

09:00maybe for those who want to get funding,

09:02what are the tips from you, Abdul?

09:04Kiat-kiat.

09:05Yes.

09:06Actually, usually in the pre-seed,

09:09we look at the founder and the team,

09:13and then the business model.

09:15The important thing is, at least,

09:17very minimal for those who are looking for a startup,

09:21is the market fit product first.

09:23So, when the market fit product has been obtained,

09:26automatically for expansion or to do something else,

09:30it's already better.

09:32But if, for example, we are still confused

09:34about what product we want to sell,

09:36or where the profit comes from,

09:38or how to get the profitability that...

09:45Hello, Mas Abdul.

09:47It's a bit difficult, right?

09:50If, for example, BEP is not yet...

09:53Sorry, related to PMF,

09:56it hasn't been found yet,

09:58so it's better how we get the market fit product

10:01from the product we create.

10:04From the service product,

10:05it has already provided a solution to all users,

10:09then the more users,

10:10and also the target of profitability in 2025

10:13can be achieved, right, Mas Abdul?

10:15Yes.

10:16Thank you for joining us.

10:17Our time is quite short.

10:19We'll talk again another time, Mas Abdul.

10:21I'm always here for you.

10:23Thank you too.

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