Ternakin Company Profile

Background

Overview

Ternakin, established in 2023, is dedicated to enhancing Indonesia's aquaculture sector by providing practical applications and IoT tools that assist fish farmers in managing their farms more effectively and increasing their yields. The company's mission is to democratize advanced aquaculture farming techniques, making them accessible to all, thereby improving daily farming activities and contributing to a more productive and sustainable aquaculture industry in Indonesia.

Vision

Ternakin aims to position Indonesian aquaculture as a globally recognized, productive, and sustainable industry by integrating advanced technology and management practices into traditional farming methods.

Key Strategic Focus

Core Objectives

Empowerment of Fish Farmers: Equip farmers with advanced technological tools to enhance farm management and productivity.

Operational Efficiency: Simplify the processes of purchasing supplies and selling fish to streamline farm operations.

Contract Farming Promotion: Encourage contract farming to optimize pond utilization and ensure a steady supply chain.

Specialization Areas

Integrated Platform Development: Creation of a comprehensive platform that records agricultural activities such as feeding, nutrition, and medication, providing insights for better operational efficiency and crop predictions.

IoT Implementation: Utilization of Internet of Things (IoT) technologies to monitor and manage aquaculture environments in real-time.

Target Markets

Ternakin primarily focuses on the Indonesian aquaculture market, aiming to bridge the gap between supply and demand by ensuring timely supply to buyers and enhancing the overall efficiency of the sector.

Financials and Funding

Funding History

Seed Round: In January 2024, Ternakin secured a seed funding round amounting to $125,000.

Investors

Antler: A venture capital firm that invested in Ternakin during the seed round, holding a minority stake in the company.

Utilization of Capital

The funds raised are intended to further develop Ternakin's integrated platform, expand IoT capabilities, and scale operations to reach a broader segment of the aquaculture market.

Technological Platform and Innovation

Proprietary Technologies

Integrated Management Platform: A proprietary platform that enables fish farmers to record and analyze agricultural activities, leading to improved operational efficiency and accurate crop predictions.

Scientific Methodologies

Data Analytics: Application of data analytics to interpret farm data, providing actionable insights for farmers to enhance productivity.

AI-Driven Capabilities

Predictive Analytics: Utilization of AI algorithms to forecast crop yields and optimize farming practices based on historical data and real-time inputs.

Leadership Team

Executive Profiles

Michael Hadiono: Co-Founder and Chief Executive Officer.

Sentoso Budiyanto: Co-Founder and Chief Commercial Officer.

Nikolas Sinurat: Co-Founder and Chief Product Officer.

Professional Backgrounds

Michael Hadiono: Brings extensive experience in business development and strategic planning within the technology sector.

Sentoso Budiyanto: Possesses a strong background in commercial operations and market expansion strategies.

Nikolas Sinurat: Prior to co-founding Ternakin, served as VP of Products at CARSOME (2022-2023), Senior Lead Product Owner at Tokopedia (2018-2022), Senior Product Manager at MatahariMall.com (2016-2017), and Product Manager at Pegipegi (2014-2016).

Competitor Profile

Market Insights and Dynamics

The aquaculture industry in Indonesia is experiencing significant growth, driven by increasing demand for seafood and advancements in farming technologies. The market is characterized by a mix of traditional practices and emerging technological solutions aimed at enhancing productivity and sustainability.

Competitor Analysis

While specific competitors are not detailed in the available information, Ternakin operates in a competitive landscape that includes other agritech startups and established companies offering solutions for farm management, IoT integration, and supply chain optimization in the aquaculture sector.

Strategic Collaborations and Partnerships

Ternakin's partnership with Antler, a venture capital firm, provides not only financial backing but also strategic guidance and access to a broader network within the technology and agribusiness sectors.

Operational Insights

Competitive Advantages

Technological Integration: Ternakin's proprietary platform and IoT tools offer a comprehensive solution that differentiates it from competitors relying on traditional methods.

Focus on Sustainability: By promoting contract farming and efficient resource utilization, Ternakin aligns with global trends towards sustainable agriculture.

Market Position

As a relatively new entrant, Ternakin is positioning itself as an innovator in the Indonesian aquaculture industry, aiming to capture market share by addressing key pain points faced by fish farmers.