Indonesian aquaculture startup eFishery nets $200M at unicorn valuation

News Summary

  • In addition to its IoT auto feeding system, eFishery’s platform includes marketplaces for selling fish and shrimp feed to farmers, fresh fish and shrimp products to B2B consumers and financial products for fish farmers.Huzaifah started a catfish farming business when he was still in college.
  • I found it quite ironic that many innovations are developed to solve issues for urban citizens, like online shopping and food deliveries, but the essential sectors, such as agriculture and aquaculture, see almost zero digital innovation.”After developing eFishery’s smart feeding system, however, Huzaifah faced resistance from fish farmers.
  • But many farmers still do hand feeding, resulting in uneven sizes of fish because not all get the same amount of food.This is a problem because buyers have specific sizes of fish they want to purchase.
  • eFisheryFeeder automatically distributes feed to fish and shrimp and helps farmers control feed by sensing fish appetite through vibrations, which increase as they get hungry.
  • According to the World Atlas, the country produces 5.8 million tons of fish each year.Founded in Bandung, West Java in 2013 by CEO Gibran Huzaifah (pictured above), the fishery currently serves 70,000 fish and shrimp farmers in 280 cities across Indonesia.
  • efishery plans to expand overseas by exporting fully traceable, antibiotic-free shrimp.In a statement about the funding, 42XFund principal Iman Adiwibowo said, “The technology and comprehensive aquaculture solutions provided by eFishery have made a significant impact on the aquatech industry and have benefited small farmers in Indonesia.
After reports that it is raising new funding, Indonesian aquaculture startup eFishery announced today that it has netted $200 million in a Series D. The company, which makes a smart feeding system fo [+5466 chars]