eFishery Launches Presence in India

eFishery formalizes its presence in India with the legal entity eFishery Aqua Techworks Private Limited. This information was first conveyed by eFishery Co-founder and CEO Gibran Huzaifah in his upload on the X platform.

“After being inside stealth mode over the last 12 months, today [26/10] we officially launched our operations in India. What excites me is how we increased farmer profits per m2 by 16 times here. "A greater impact on solving the problem of world hunger," he wrote.

Confirmed by DailySocial.id, Gibran confirmed that the company had formalized its presence in Indonesia. “Yes [it is public], but it is not yet official regarding detailed information and etc"said Gibran.

The head office of eFishery India is in the city of Kakinada, Andra Pradesh. Andra Pradesh is a state in the southern coastal region of India with the seventh largest and tenth most populous in India. According to Gibran, Kakinada is the largest fish production site in India, supplying 85% of total production.

“We approached the cultivator, not to tech talents. Now 90% of us work on in India in the fish hell, " he said.

The pilot project has also been carried out for 12 months since September 2021. Some time ago, Gibran explained that his reason for entering India was none other than because the aquaculture industry there has many similarities with Indonesia. Among them, the fish farmers both started on a small scale and their market share is also similar, around $9-10 billion per year.

The location of the farmers there is concentrated in one location which is similar in area to the island of Java. Around 85% of national production comes from this location. Also, the productivity of Indian cultivators is only 1/5 of Indonesia's. This means that Indonesian cultivators are more skilled at using new technology.

“If we bring in [eFishery] technology to increase productivity, the impact will be greater. Not to mention the impact on other sectors, such as retail consumption."

The conditions above are in stark contrast to Indonesia's neighboring countries, such as Thailand and Vietnam. In both countries, the aquaculture industry is dominated by big players who ultimately make their cultivators stick to the magnet.

After India, the company will be looking for its next candidate. However, they don't want to rush into expansion. “The concept one country at a time to focus, want to see impacthow, because of us I want to be sustainable. Not many countries at once, then closing them when they fail.”

Since being founded in Indonesia in 2013, the company has attracted more than 200 thousand fish farmers and shrimp farmers with 1,1 million active ponds spread across 280 cities and districts throughout Indonesia.

Until 2022, the company has facilitated 1,1 trillion freshwater fish sales transactions and 1,12 trillion shrimp sales transactions. If nominalized, it is equivalent to IDR 8 trillion in total sales transactions for fish and shrimp, and IDR 4 trillion in total sales transactions for fish and shrimp feed.

The largest contribution was contributed from West Java with a percentage of almost 40%. Meanwhile, for exports, the figure is said to reach 20 million kilos per month for 10 commodities in eFishery to the United States and China.

Its financial solution, Kabayan, has been supported by dozens of financial companies, such as Bank OCBC NISP, Amartha, Investree, and Kredivo. The total funds distributed reached IDR 1,07 trillion for 24 thousand fish and shrimp farmers. The realization of the Kabayan program increases 2,5 times each year, enabling cultivators to gain access to financial support of up to IDR 45 million per person.

eFishery's first product, eFeeder, is an automatic fish feeding tool, capable of speeding up the harvest cycle by up to 74 days and increasing feed efficiency by up to 30%. This product has gone through various feature upgrades until the latest version reaches version 5, equipped with faster, smarter and stronger components to support more productive and efficient cultivators.