eFishery develops an IoT smart feeder that measures appetite with sensors, dispenses feed accordingly, and records feeding data in real time for fish and shrimp farms. The system sends feeding reports to farmers' smartphones and the mobile services require a monthly subscription fee. The company says its smart feeder can reduce feed usage by about 21 percent. Products are currently available in Java, Bali and Sumatra, and eFishery reports a sales pipeline of more than 17,000 fish and shrimp farms. The startup is already receiving orders from Thailand, Singapore, India, China, Brazil and countries in Africa, indicating international demand and expansion potential. Founders position the product as a solution to feeding inefficiencies across operations of all sizes. eFishery is an Indonesian aquaculture company. The company has secured a $30 million green and social working-capital loan from HSBC Indonesia. The loan is intended to support the company's expansion plans. The financing is described in the article as both green and social, indicating environmental and social objectives tied to the facility. HSBC Indonesia is the lender named in the coverage. eFishery builds an IoT auto-feeding system (eFisheryFeeder) and a platform that includes marketplaces for feed and fresh fish/shrimp as well as financial products for farmers. Founded in Bandung, West Java, in 2013 by CEO Gibran Huzaifah, it serves 70,000 fish and shrimp farmers in 280 cities across Indonesia. The feeder senses fish appetite via vibrations, automates feed distribution, lets farmers manage ponds from smartphones, and collects data on feed usage, feed type/brand, production, behavior, stock density and mortality. The company says feeding accounts for a large share of production cost and aims to improve efficiency and sustainability across fragmented local markets. eFishery plans to reach one million aquaculture ponds in Indonesia by 2025 and to expand overseas, including exporting fully traceable, antibiotic-free shrimp. In a Series D it raised $200 million and became the first startup in the global aquaculture industry to pass a $1 billion valuation. eFishery builds hardware and software for aquaculture, including smart feeders and farm-management apps (eFarm for shrimp, eFisheryKu for fish). The company also offers financing products such as eFund, which connects farmers to financial institutions and a pay-later service for supplies. More than 30,000 farmers in Indonesia use its smart feeders, and over 7,000 farmers have used eFund, with total approved loans exceeding $28 million. eFishery said this raise is the largest round by an aquaculture tech startup in the world. The new capital will be used to scale the platform and expand into the top 10 aquaculture countries, including China and India. Its product set spans hardware, software, and financial services to address multiple points in the aquaculture value chain. eFishery builds smart sensor-enabled feeders that automate feeding for fish and shrimp farms. Launched in 2013, the company is deployed in 16 provinces and 67 cities across Indonesia and employs 67 people, mostly in field sales and operations. It generates revenue through a one-time hardware purchase fee plus a monthly subscription for hardware usage, and is running pilots for new revenue models from its data platform. eFishery reports it grew revenue by over 261 times in the last two years and says it is profitable. The company will use the funds to expand nationally—deepening presence in farming areas, building its data platform, and boosting recruitment. It is also partnering with financial institutions and restaurant chains and running pilots in Vietnam, Bangladesh, and Thailand to support regional expansion.

Total raised

$324M

Funding rounds

5

Latest round

Debt Financing

Latest activity

May 2024