eFishery India Has Reached 1.000 Hectares of Ponds and 3.000 Metric Tons of Feed

Startups aquatech eFishery introduces business in India, eFishery Aqua Techworks Private Limited, after completing commercial trials since March 2023. eFishery India is able to reach more than 1.000 hectares of ponds owned by farmers and distribute 3.000 metric tons of feed.

This positive achievement makes the company continue to have the ambition to expand its operational reach to five other states in India by the end of 2024. Apart from India, eFishery is also looking at opportunities in one or two countries in Asia and Latin America in the next year, while continuing to operate export of shrimp products abroad.

This strategy also focuses on looking at market variations that offer a comprehensive ecosystem to farmers, creating a digital cooperative model complete with access to high-quality fish and shrimp feed, Internet of Things (IoT) technology, production SOPs, and purchase guarantees (off-take), in order to empower and develop the potential of cultivators.

"Starting with India, we are proud of eFishery's ability to mobilize the potential power of aquaculture globally through technology made in Indonesia, with an average increase in cultivator income reaching two to three times," said eFishery Co-founder and CEO Gibran Huzaifah in an official statement, Thursday (14/12).

He realizes that the potential and value of the Indian aquaculture industry, both in size and structure, is similar to Indonesia, which is dominated by small and medium level cultivators. Positioned as partners, key contributors to India's local and regional food security can better contribute to producing sustainable protein sources that are accessible to the global community.

India with a population of 1,4 billion people has a high level of consumption seafood up to 60-70%. This high consumption has an impact on the aquaculture industry which is worth more than $15 billion, and has a Compound Annual Growth Rate (CAGR) of >8% over the last three decades.

This illustrates the enormous potential of the aquaculture industry in India. However, amidst this enormous potential, small and medium cultivators in India still face various challenges, such as weak access to markets, inconsistent and unprofitable price schemes, payment schemes that are always late, and a lack of basic information on cultivation management in terms of procedures. , technology and innovation.

Realizing this, eFishery seeks to empower farmers to make decisions quickly based on information and data. The focus is on optimizing cultivation practices and increasing overall crop yields.

eFishery's International Expansion Lead Neil Wendover explained the company's commitment to increasing the profitability of farmers in each expansion target country. According to him, eFishery's business goals remain focused on solving farmers' problems and increasing profitability by encouraging productivity and operational efficiency.

"We do not reduce their profits, but actually double the results," he added.

eFishery India started its operations in Andhra Pradesh, an Indian state that accounts for 35% of the nation's total aquaculture production. The team consists of 50 local employees, who have a deep understanding of the local culture. Support from government agencies and raw material suppliers plays an important role in overcoming the unique challenges of India's highly potential but still fragmented aquaculture sector.

“We are pleased that our strategic efforts have borne fruit. In India, we are on track to achieve 10x growth, in line with our international expansion business targets."

“The collaboration with eFishery has brought a big change to our small aquaculture pond. Their innovative solutions and support have increased efficiency and driven the overall sustainability of our cultivation operations. "Continuous assistance from eFishery also ensures a successful harvest, thereby preventing the need for a panic harvest due to financial constraints," said Ch. Veera Nageswar Rao, fish farmer from Kakinada District in India, and also a partner of eFishery.

Founded in Bandung in 2013, eFishery has disrupted the Indonesian aquaculture industry by offering IoT-based digital autofeeders. This innovation aims to increase accountability, efficiency and comfort in fish farming businesses. eFishery's data-based technology uses sensors to monitor and optimize feeding, fish health and water quality while minimizing waste.

As a startup unicorn A first in the global aquaculture industry, eFishery's strategic move into India is in line with the company's commitment to solving the world's hunger problem.

“Our presence in India is an important step in our international expansion strategy. "By focusing on technology and data-based solutions, eFishery is leading the transformation of the aquaculture value chain and contributing to the economic welfare of farmers," concluded Gibran.