Indonesian agritech firm Elevarm has secured a $1-million commitment from its new partners while Choco Up has teamed up with Set Sail AI for generative AI adoption.
Indonesian agritech startup Elevarm secures $1m investment pledge
Elevarm, an agritech startup based in Jakarta, announced that it has secured $1 million in investment commitments from its new strategic partners.
The commitment comes after the startup formally entered into strategic partnerships with Europe’s Rabobank, Japan’s Nikkei-listed IT giant Scala, and Indonesian tech-driven microfinance firm Amartha.
The $1-million commitment from the partners will be used to develop Elevarm’s pro-farmer financing product, allowing smallholder farmers to acquire agricultural input on a secured credit basis, among others.
Elevarm was founded in 2022 to provide farmers with quality inputs for higher farming productivity and safe and accessible farming. The global partnerships are expected to benefit more than 1,000 farmers by the end of this year.
Elevarm announced raising $2.6 million in seed funding in May to scale its seedling and organic fertiliser production capacity. That round was anchored by Insignia Venture Partners and 500 Global.
Choco Up teams up with Set Sail AI
Revenue-based financier Choco Up has partnered with contact centre solution provider Set Sail AI to drive the adoption of generative AI, according to an announcement.
Through the partnership, Set Sail AI’s customers will gain access to Choco Up’s revenue-based financing platform, allowing them to expand sales, marketing, and distribution channels in Hong Kong and beyond.
Set Sail AI’s clients include shopping malls, retail brands, public sector, and large enterprises. Its SaaS Gen AI Agents Building Platform allows businesses to create customised AI agents for sales, customer, email responses, and booking management.
“Our partnership with Set Sail AI is a significant step in empowering businesses in Hong Kong and beyond to adopt the digital tools they need to scale and thrive,” said Choco Up founder and CEO Percy Hung.
In March, Choco UP partnered with restaurant tech company Atlas to launch a new fund to invest in F&B businesses in Singapore.