eFishery, an Indonesian aquatech startup, has raised a total of US$200 million in series D fundraising, bringing its worth to more than $1 billion.
eFishery is valued at US$1.4 billion, according to VentureCap Insights, which tracks regulatory filings in Singapore.
Founded in 2013 by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah, the firm first entered the market with the eFishery Feeder, an IoT device that allows for automated feeding in fish and shrimp farms.
eFishery Mall (a marketplace for selling fish and shrimp feed), eFishery Fresh (a platform that sells fresh fish and shrimp to B2B customers), and Kabayan (a pay-later program for fish farmers) are now among its other revenue sources.
With the latest capital, the company hopes to cover more than 1 million aquaculture ponds in Indonesia by 2025 and grow fish feed and fresh fish transactions on the platform.
According to the OECD, Indonesia is the world’s second-largest aquaculture producer, producing 14.8 million tons in 2020, accounting for 13.2% of global output.
