US-based medical technology company Alio has raised $18 million in Series C financing round led by Indonesia’s Widjaja Family Investment Office. Eratani, an Indonesia-based agritech startup, announced it has closed a $3.8-million seed funding round.
Alio raises $18m Series C funding
Alio has raised $18 million in a Series C financing round led by the Widjaja Family Investment Office. The Widjaja family owns Indonesian conglomerate Sinar Mas Group, whose interests span paper, real estate, financial services, health care, agribusiness, and telecommunications.
Besides Alio, the Widjaja Family Investment Office also joined the pre-seed funding round for Swiss firm Veax in Nov 2022, according to Crunchbase.
The latest round brought the total funding raised by Alio to over $50 million, according to a statement on Tuesday. Other investors who joined the Series C round include Chase Field LLC and Thomas Krebs, former treasurer of Penumbra Inc.
Alio plans to use the fresh capital to expand its remote patient-monitoring technology. In 2021, Alio closed a Series B financing round totaling $20 million.
TNB Aura leads Eratani’s seed round
Eratani announced it has closed a $3.8-million seed round led by Singapore-based VC firm TNB Aura, with participation from AgFunder, Trihill Capital, and B.I.G. Ventures, according to a statement on Wednesday.
In June 2022, Eratani closed $1.6 million in a pre-seed round led by Trihill Capital. Kopital Network and Kenangan Fund, the VC firm established by the founders of local coffee chain Kopi Kenangan, also joined the fundraise.
Since its 2021 launch, Eratani has managed to onboard more than 10,000 fostered farmers across the island of Java, managing 8,000 hectares of land and supporting the production of more than 52,000 tonnes of rice within a year of operating.
Through this funding, Eratani projects to empower over 50,000 fostered farmers by the end of 2024, pushing the team well towards their goal of strengthening and transforming Indonesia into a strong agricultural nation.