Daily Markup

Daily Markup #1158: Chickin secures ~US$15M loan to help poultry farmers scale and provide affordable high-quality food for more people

February 5, 2025 · 1 min read
Photo credit: The Leap

 Underwriting underdogs 

  • While banks used to “chicken out” when offering loans to mid-cap companies; DBS Indonesia is jumping in to partner 500-backed agritech startup Chickin with a ~US$15.3M (IDR250 billion) loan to boost its working capital and business operations.
  • “This support allows us to provide working capital for small-scale farmers, ensure more environmentally friendly farming practices through the use of technology so as to increase farmers’ productivity, and bolster food security for the people of Indonesia,” shared Co-founder & CEO Tubagus Syailendra Wangsadisastra.
  • With a network of 12,000 farms, Chickin offers cloud-based software and IoT technology to enable real-time monitoring for farmers, helping them manage their farms efficiently.
  • Through their app and farming management system, Chickin collaborates with farmers via a contract farming model — the farmers raise chickens, while Chickin manages sales.
  • Chickin also processes live chickens into poultry cuts and distributes them to companies across multiple sectors, including hotels, restaurants, catering services, and the food processing industry. The team has earned the trust of over 200 companies across Indonesia.
  • Chickin’s future plans include expanding its customer base and improving service quality.
  • Read the full story here.
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