eFishery, a leading aquaculture company from Indonesia, managed to secure Series D funding worth 200 million USD (around 3 trillion Rupiah). This funding will be used to accelerate the company's target of developing the cultivator community in Indonesia and increasing transactions in eFishery.
This series D funding round was led by 42XFund (a global investment management company based in Abu Dhabi) supported by Association Wang Association (Established) (Malaysia's largest pension fund company), responsiveAbility (Swiss-based asset management company), 500Globals (a multistage venture capital firm), as well as several other emerging investors. Early eFishery investors like Northstar, Temasek, And Softbank also participated in this funding round. Besides that, there is also Goldman Sachs exclusively acting as funding advisor. This latest investment shows that investors have confidence in their integrated Aquaculture ecosystem eFishery.
Based on the latest research from the Demographic Institute, Faculty of Economics and Business, University of Indonesia (LD FEB UI), eFishery has contributed IDR 3.4 trillion or the equivalent of 1.55% to the GDP of the Indonesian Aquaculture sector throughout 2022. The integrated ecosystem of eFishery which cover marketplace And platforms sales of fish products, shrimp products, and services to access finance have supported more than 70,000 cultivators and farmers throughout Indonesia.
eFishery Co-Founder and CEO, Gibran Huzaifah, said “Currently, aquaculture is the fastest growing sector in the global fishing industry. The strategic support we receive from investors will help eFishery revolutionizing the entire industry, through the integration of small-scale fish farmers and shrimp farmers with the ecosystem eFishery that covers the whole value chain aquaculture business.”
This series D funding, said Gibran, will be used for community development of fish cultivators and shrimp farmers from eFishery which targets more than 1 million aquaculture ponds in Indonesia by 2025. eFishery will also utilize the funding to increase transactions for fish feed and fresh Aquaculture products in platforms This.
The development of the Farmer community is in line with the effort eFishery to increase exports of domestic shrimp products that are free of chemicals and antibiotics. In addition, this also makes the export of shrimp products eFishery fully traceable (traceable) to the international market, as well as closer relations between consumers and farmers.
Principal from 42XFund, Faith Adiwibowo, expressed his excitement regarding this funding, “We believe in the vision eFishery and interested in becoming a key partner who adds value and contributes to the company's growth. Other Aquaculture technologies and solutions provided by eFishery has had a significant impact on the aquaculture technology industry, as well as providing benefits for small cultivators in Indonesia. We also believe that eFishery can continue to contribute to realizing an inclusive and sustainable economy, while at the same time playing a role in preserving the environment in Indonesia, and even the world.”
"Some think that the whole world is copying Silicon Valley," he said Managing Partners from 500 Global, Khailee Ng, “However, I guess eFishery has proven to be unique in terms of business model innovation, as demonstrated by its achievements in three areas at once, namely, scalability, sustainable growth, and profitability that have been produced consistently over the years, even before becoming a company with a valuation of over USD 1 million. It is this business model that needs to be presented in Silicon Valley.”
Rik Vyverman, Global Head of Sustainable Food Equity For responsiveAbility Investments AG (rA), and which also is impact investors from Zurich, adds, “Business model eFishery which shortens supplychain can continue to disrupt the traditional aquaculture market in Indonesia and the world. Target Sustainable Development Goals (SDGs) will also achieve more along with growth eFishery.”
Trust in the company was also expressed by Investment Director from rA Southeast Asia, Chris Teoh, “Look at leadership eFishery competent as well as the company's closeness to the cultivator community and all stakeholders, we believe that the company will continue to modernize the industry in a sustainable way farm-to-fork, starting from the supply chain, production sites, to consumers. We are excited to support the company grow to new heights.”
Established in Bandung in 2013, eFishery has disrupted the Aquaculture industry by presenting digital solutions auto feeder based Internet of Things (IoT) which is designed to increase the accountability, efficiency, and convenience of the fish farming business. Technological approach eFishery data-driven uses sensors to measure fish movement and acoustics from shrimp, optimizing feeding as well as fish health and water quality while reducing waste.
About eFishery
Founded in 2013, eFishery is a company Aquaculture Intelligence the first to develop innovation in the field of Aquaculture. eFishery Disrupting traditional fish and shrimp farming methods by providing state-of-the-art solutions in the Aquaculture ecosystem by offering end-to-end platforms which provides access to feed, funding, and markets for fish farmers and shrimp farmers. eFishery aims to build an Aquaculture ecosystem in Indonesia, which is not only profitable, but also sustainable for all stakeholders. The company has three main goals: solving food problems through Aquaculture, addressing fundamental problems in the Aquaculture industry by providing affordable technology, and reducing social and economic inequality through an inclusive digital economy. For more information regarding eFishery, please visit efishery. com.
Media Contact:
Satrio Sih Pinandhito
Corporate Communications Manager
satrio.sih@efishery.com
+6281288132318
Muhammad Chairil
Vice President of Public Affairs
m.chairil@efishery.com
+62811203025