Indonesian aquaculture start-up eFishery, which provides access to feed, financing and markets to fish farmers, has raised Series B funding round co-led by Go-Ventures and the Northstar Group. Existing investors including sustainable aquaculture investment fund Aqua-Spark and deep tech VC Wavemaker Partners also participated in the round.
“We are really inspired by the impact that eFishery is having on the aquaculture supply chain. The company’s ability to deliver fish farmers the latest in smart-hardware integrated with cloud-based mobile analytics is transforming a very traditional business in Indonesia. We are proud to partner with the eFishery team and see great things ahead.”Patrick Walujo, co-founder of the Northstar Group
Starting from innovation with the Smart Feeder, an automatic feeder that is able to record fish growth data, eFishery has strived to create innovations within the field of aquaculture. It currently provides various services that offers solutions with an even greater coverage from providing supply within the industry to meeting market demands.
eFishery has now evolved into the first aquaculture intelligence company in Indonesia. As an aquaculture intelligence company, it has three main objectives;
- to provide world food needs through aquaculture
- to be a solution in addressing fundamental problems within the industry
- to provide affordable technology in order to reduce social and economic inequality through an inclusive digital-based economy
Of fish and shrimp farmers are able to develop their business together with eFishery.
Of eFishery feeders units have been deployed throughout various fish and shrimp farms.
Of fish and shrimp commodities have been fed through using the eFishery feeder.
Launched in 2013 and based in Bandung, eFishery serves thousands of farmers in 24 provinces across Indonesia. eFishery provides four main products:
- eFisheryFeeder: A device that enables automated feeding for fish and shrimp, which can be monitored and scheduled via a smartphone.
- eFisheryFeed: It provides farmers with quality fish feed at affordable prices.
- eFisheryFund: It helps farmers gain access to funds to grow their business.
- eFisheryFresh: It’s an online platform to connect Indonesian fish farmers with their customers.
The funds raised will be used to strengthen product development, anchor eFishery’s position within the domestic aquaculture industry, and grow the team. The money will also be invested into building stronger data capabilities and algorithms for eFisheryFeeder, a device that automates feeding while improving fish health and yield.