- Pitik recently laid off employees amid business review.
- The company provides full-stack livestock management technology to partner farmers.
- Pitik faces challenges in the Indonesian market despite revenue growth.
Pitik, an Indonesia-based poultry startup, has recently laid off an undisclosed number of employees as part of its ongoing efforts to align its operations with business objectives and adapt to market changes.
CEO Arief Witjaksono confirmed the layoffs in a statement to Tech in Asia Indonesia, emphasizing the company’s commitment to consistently assessing its operations.
Full-stack livestock management technology
Founded in 2019 by Arief Witjaksono and Rymax Joehana, Pitik provides partner farmers with a full-stack livestock management technology service, including IoT-based systems and tools.
The company also distributes chicken products directly to consumers. In May 2022, Pitik secured a $14 million series A funding round led by Alpha JWC Ventures, with participation from MDI Ventures, Wavemaker Partners, and Arise.
Competing in market challenges
Despite recording a 20x growth in revenue from October 2021 to October 2022, Pitik faces challenges in the Indonesian market, where chicken consumption is expected to grow but is still considered a luxury food by many.
To diversify its revenue sources, the company has developed chicken-processing capabilities and provided financing to chicken farmers. Pitik competes with local players such as BroilerX and Chickin in the poultry industry.
The recent layoffs and business review demonstrate the company’s efforts to navigate these market challenges and position itself for long-term success.
To read the original article: https://www.techinasia.com/chicken-startup-pitik-lays-staff-reevaluates-business-operations
