Indonesian Aquatech Startup eFishery Raises $200M in Series D Funding, Surpasses $1B Valuation

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In the News

• eFishery has raised $200 million in a series D funding round led by Abu Dhabi-based 42XFund.
• eFishery introduced eFishery Feeder to fish farmers in Indonesia to automate feeding on fish and shrimp farms. The company offers financing solutions and operates a B2B marketplace for fish and shrimp farmers to trade feed and produce.
• With the new funding, eFishery aims to engage over 1 million aquaculture ponds in 2025 and improve its B2B marketplace.

The Story

In a series D funding, Indonesian aquatech startup, eFishery, has raised U$200 million. The funding will allow eFishery to continue its aquaculture expansion in Indonesia, as well as expand and improve its fish sales marketplace.

This funding round was led by Abu Dhabi-based 42XFund and had participation, Malaysia’s largest public sector pension fund, Kumpulan Wang Persaraan (Diperbadankan), Swiss asset manager, responsAbility, venture capital firm, 500 Global, and other new investors. Goldman Sachs acted as an exclusive financial advisor to eFishery, as reported by TechCrunch. Existing investors such as Northstar, Temasek, and SoftBank, also took part in the funding round.

Founded by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah, eFishery is the first aquaculture technology startup in Asia and is disrupting traditional agricultural systems with technology. The agritech startup introduced its innovative IoT device in 2013 to aid fish and shrimp farmers in Indonesia. The eFishery Feeder IoT device allows aquaculture farmers to automate feeding on their farms. This has since become a game-changer in the agritech space in Indonesia. 

eFishery is an end-to-end platform that offers financing solutions to fish farmers. The eFishery B2B marketplace also allows fish and shrimp farmers to trade feed and produce. The platform is building an aquaculture ecosystem in Indonesia that is profitable and sustainable for farmers, buyers, and all stakeholders. By providing data-driven solutions, farmers can learn cultivation and harvest, and there’s also a calculating tool embedded to help farmers make profit estimates, enabling them to make better financial decisions. 

The funding will enable eFishery to expand its reach across Indonesia, with the goal to engage over 1 million aquaculture ponds in the next two years, as well as increase the fish and feed transactions on the eFishery marketplace. This funding round has pushed eFishery valuation to surpass US$1 billion, giving the platform a “unicorn” status. IntraFish reports that eFishery’s valuation has reached US$1.3 billion. The platform is located in Bandung, Jawa Barat, and currently serves 70,000 farmers across 280 cities in Indonesia.