Banyu, an Indonesian integrated seaweed company, has announced the completion of a $1.25 million seed funding round from Intudo Ventures, according to an announcement.
The company aims to revolutionise Indonesia’s seaweed industry through innovative seedling cultivation, advanced farming techniques, and sustainable practices while empowering local farmers and enhancing their livelihoods.
Banyu was founded in December 2023 and is led by Dodon Yamin (Chief Executive Officer), Anis Nur Aini (Chief Sustainability Officer), and Anthony Kwik (President Commissioner). It was created to address the challenges faced by Indonesia’s seaweed industry, which is dominated by smallholder farmers.
Despite Indonesia being the world’s largest producer of tropical seaweeds and a critical part of the global seaweed supply chain, the sector is plagued by low-quality inputs, labour-intensive farming methods, inconsistent demand, limited access to financing, and minimal adoption of technology.
Banyu’s comprehensive offerings target these issues by eliminating market fragmentation, improving efficiency, and fostering a more transparent value chain.
