With a total of $200 million in series D funding, Indonesian aquatech company eFishery has raised more than $1 billion in total valuation.
Among the other investors were Kumpulan Wang Persaraan, responsAbility, 500 Global, Northstar, Temasek, and SoftBank.
eFishery is worth US $1.4 billion, according to VentureCap Insights, which monitors regulatory filings in Singapore.
The startup, which was established in 2013 by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah, debuted on the market with the eFishery Feeder, an IoT device that enables automated feeding in fish and shrimp farms.
eFishery Fresh, a platform that sells fresh fish and shrimp to B2B customers, Kabayan, a pay-later program for fish farmers, and eFishery Mall, a marketplace for the sale of fish and shrimp feed, are now some of its additional revenue sources.
With the additional funding, the company hopes to expand the platform’s fish feed and fresh fish transactions and cover more than 1 million aquaculture ponds in Indonesia by 2025.
Indonesia is the world’s second-largest aquaculture producer, behind China, according to the OECD, with a total output of 14.8 million tons in 2020, or 13.2% of global production.
