eFishery attained a valuation of $1 billion, achieving the distinction of being Indonesia’s first aquaculture unicorn.

Indonesian startup eFishery has secured $200 million in a Series D funding round, propelling its valuation to over $1 billion and earning it unicorn status. Led by 42XFund, the funding round included participation from investors such as Kumpulan Wang Persaraan, responsAbility, and 500 Global.

eFishery, founded in 2013 and headed by CEO Gibran Huzaifah, has developed an IoT-based smart feeding system that revolutionizes the aquaculture industry. By remotely monitoring and controlling feeding processes via smartphones, fish and shrimp farmers can optimize productivity and profitability. The system also collects valuable data on fish behavior and mortality rates, enabling informed decision-making. (readwrite)

Traditional manual feeding techniques in fish farming have led to inconsistent growth and resource wastage. However, eFishery’s intelligent feeding system ensures precise feed distribution, promoting even growth and reducing nutrient runoff.

As the second-largest fishing and aquaculture industry globally, Indonesia’s aquaculture sector contributed 1.55% to the country’s GDP in 2022. eFishery aims to expand internationally while reaching one million aquaculture ponds in Indonesia by 2025, focusing on sustainability and exporting antibiotic-free shrimp.

Navigating regional regulations and fragmentation, eFishery emphasizes collaboration with local players to effectively operate across Indonesia’s diverse provinces. By offering personalized digital solutions, including marketplaces for selling feed and aquatic products, eFishery empowers farmers to compete in the industry. The company’s achievements highlight the immense growth potential within the aquaculture sector, not only in Indonesia but also globally.

eFishery aims to reshape the industry through technological advancements, environmentally responsible practices, and collaborative efforts. Alongside other tech-driven startups such as Aruna, Delos, and FishLog, the startup contributes to the modernization and expansion of Indonesia’s aquaculture practices, solidifying the country’s position as a significant force in the global fishing and aquaculture landscape.

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