Indonesia eFishery raises $90 million from Temasek, SoftBank Vision Fund 2 and Sequoia Capital India – Techdoxx

Deepak Gupta
Deepak Gupta January 11, 2022
Updated 2022/01/11 at 4:32 AM

based in Indonesia eFishing announced today that it has raised what it claims is the largest funding round for an aquaculture technology startup in the world. The company, which provides feeding devices, software and financing for fish farmers and shrimp, has secured a $90 million Series C, co-led by Temasek, SoftBank Vision Fund 2 and Sequoia Capital India, with participation from investors from Northstar Group, Go-Ventures. , Aqua-Spark and Wavemaker Partners

The funds will be used to scale up the eFishery platform and expand to the top 10 countries for aquaculture, including China and India.

eFishery’s products include software such as eFarm, which allows shrimp farmers to monitor their operations, and eFisheryKu, which does the same for fish farmers. Its financing products include the eFund, which connects fish farmers with financial institutions for products such as a post-payment service for purchasing from suppliers. He says more than 7,000 farmers have used the eFund so far, with total approved loans of more than $28 million.

Other products include smart feeders that are now used by over 30,000 farmers in Indonesia.

In a statement, Anna Lo, Chief Investment Officer at SoftBank Investment Advisers, said: “Indonesia is one of the world’s largest producers of fish and we believe its aquaculture industry can play a significant role in feeding the world’s growing population.”

Other Indonesian agtech startups that have recently raised significant funding rounds include marketplaces TaniHub and Eden Farm, sea-to-table fishing company Aruna and social commerce startup. chilibel.

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