Pitik has raised US$14 million from Alpha JWC, MDI Ventures and Wavemaker Partners in a Series A round. The deal was inked following Pitik’s success in helping poultry farmers to push down their poultry mortality rate by half and improve feed conversion ratio by 12%, increasing poultry farmers’ income by 20%.
Founded last year, Pitik plans to continue building a presence across Java within the year as well as to expand to other regions next year. It plans to enhance tech and product capabilities and expand its business downstream to meet end-users’ growing demands.
Watiga Legal acted as international legal counsel to Pitik in the fundraise. The Watiga Legal team comprised of founder and managing director Matt Richards and senior associates, Mikhail Wee and Norashikin Kamal.