FishLog Receives Pre-Series A Funding of 55 Billion Rupiah

Startups aquatech FishLog announced the acquisition of pre-series A funding of $3,5 million (over 55 billion Rupiah). A number of investors participated in the round, namely BRI Ventures, Accel, Insignia Ventures Partners, Patamar Capital, Indogen Capital, and Triputra Agri Group.

FishLog will use the fresh funds to strengthen the cold chain network of Indonesia's domestic fisheries through the built ecosystem. Including access to finance and ecosystem partners. Then, strengthen FishLog's role in the global supply chain as an ecosystem driver and develop workforce sustainability in the industry through the "FishLog Academy".

In an official statement delivered today (3/10), BRI Ventures Chief Investment Officer Markus Rahardja said, FishLog's comprehensive focus on digitizing the fishery supply chain is a solution to the problem. coldstorage and maintain logistics distribution from upstream to downstream.

This is in line with the task of the Indonesian Logistics Agency in maintaining price stability, stock, quality of fishery products, and equitable distribution, as well as implementing a standardized National and International Stock Storage Unit (SKU) naming system.

"We are very pleased to partner with FishLog with the innovative role they are playing in the Indonesian fishing industry and support them to continue to focus on Integrated Supply Chain in the Seafood Industry and expand the digitization of the FishLog ecosystem globally," said Markus.

Since 2020, FishLog has driven increased cold storage, processing and distribution of Indonesian fisheries to better meet global supply and demand.

FishLog activates coastal fishing areas by establishing FishLog Quality Centers, a platform offline-online hybrid who work with partners coldstorage to provide local stakeholders including fishermen, aggregators and traders, greater access to buyers by listing their inventory on the FishLog marketplace and digitizing their operations.

FishLog also enables fishing businesses to maximize upstream to downstream operations through its four products, inventory handling, financing, B2B marketplace, and Digitizing Cold Storage.

A number of startups in the aquatech look get more attention from investors. This year alone, several players have received funding, including eFishery (Rp 1,2 trillion), Aruna (Rp 431 billion), to Delos (Rp 115 billion).

Achievements and next plans

FishLog CEO & Co-founder Bayu Anggara said, "While there is enormous global business potential for Indonesia's fisheries sector, it has long been plagued by inefficiency and fragmentation. Its mission at FishLog is to unlock sales potential and maximize the storage utility of Indonesia's fragmented fishing industry, building the best and most affordable way to ensure product and workforce sustainability in the industry.

“Through this funding, we will continue to build cold chains ecosystem enablers and operating systems for fisheries in Indonesia. Our vision is for all stakeholders in this sector to participate productively in this industry, transact securely, trusted by, and seamlessly integrated with one another,” said Bayu.

He continues to achieve his vision for a stronger fishing industry in Indonesia, it takes a lot of qualified talent. To that end, FishLog has stepped up its team recruiting and expansion. Currently, the company has more than 200 employees.

On the other hand, as a form of contributing to the sustainable development of industry talent, his party formed the FishLog Academy. This program is built to develop and have the same standards in this fishing industry.

FishLog Academy is an intensive program to produce the best talent in this industry offering professional education, personal development and guaranteed career opportunities. Fishlog Academy is committed to strengthening the skills and abilities of future talent in the fishing industry.

FishLog Academy focuses on two programs that will produce competent young talents in the areas of Quality Control and Cold Storage Operations. They will immediately receive theory and practice directly at FishLog Quality Centers throughout Indonesia.

In addition, another program at FishLog Academy is to prepare talents who are ready to work professionally, and who are competent in the fishing industry. They will be given lessons on Operations & Business Management.

In the future, the company will continue to make Indonesia its main market. However, it still opens the potential of Indonesia's domestic fisheries in the eyes of the global stage. Currently, the company is preparing a product marketplace enabler for all fisheries stakeholders in Indonesia, streamlining their supply chain processes to be more efficient and transparent in a more sustainable way.

"We have built a strong model that can be replicated throughout Indonesia, we are now taking the initiative to expand in the global supply chain," concluded Bayu.