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?
Seperti apa perluasan usaha Lokatani pasca pendanaan?
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TVTranscript
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.