eFishery Becomes Indonesia's 15th Unicorn Startup, Reportedly Raises 1,6 Trillion Rupiah Series D Funding

eFishery reportedly secured new funding in a Series D round with a value of $ 108 million (over Rp. 1,6 trillion) which catapulted the company into the ranks unicorn. First time reported Deal Street Asia, an investor from Abu Dhabi namely G42 Global Expansion Fund led the funding round, followed by Softbank Vision Fund II and Northstar Group. Previously such rumours It has been circulating since early March 2023.

According to data we obtained from Venture Cap, eFisehery has raised over $220 million in third-party funds with a recent valuation of over $1,3 billion --- making them a startup. unicorn 15th in Indonesia. This at once becomes unicorn first for landscapes aquatech.

As a maritime country, Indonesia has a large fishing industry potential, which has encouraged a number of startups to try to democratize and innovate in this segment. Besides eFishery a number of startups aquatech others in Indonesia include Fishlog, JALA, DELOS, and FisTx. They have also received funding support from investors to launch their business penetration in the fishery/aquaculture industry in the country.

This startup, which was founded by Gibran Huzaifah, Muhammad Ihsan Akhirulsyah, and Chrisna Aditya in 2013, has transformed into a comprehensive service for the fishing industry. They provide solutions from upstream to downstream, starting from helping fish and shrimp farmers increase the effectiveness of their ponds, marketing them, to connecting to end customers.

Apart from strengthening its market share in Indonesia, eFishery is starting to look at foreign markets. At the beginning of 2022 when it was announced $90 million series C funding, they said they aim to expand into the top 10 aquaculture countries, such as India and China. To support this growth, eFishery has more than 800 employees to support all its business lines.

A number of financial institutions also provide support in the form of credit to empower productive financing services on the eFisheryKu service. Latest, Bank OCBC NISP disbursed IDR 250 billion in funds, following Bank DBS Indonesia which also provided similar facilities worth $500 billion.

Also listen to our conversation with the CEO of eFishery in the session DSCussion: