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This Indonesian Startup Aims to Disrupt US Aquaculture Market

In the dynamic world of aquaculture, one Indonesian startup is making waves internationally. eFishery, founded in 2013, has recently ventured into the US market, bringing innovative solutions to the forefront of sustainable fish farming. Originating from Bandung, West Java, eFishery has established itself as a pioneer in aquaculture technology with its mission to revolutionize fish and shrimp farming through smart, connected solutions.

Founded in 2013 by Gibran Huzaifah, eFishery emerged from Bandung, West Java, as a trailblazer in the aquaculture technology space. The company began with a vision to enhance the efficiency and sustainability of fish and shrimp farming through innovative solutions. Over the years, eFishery has garnered significant recognition and support, transforming it into a leading player in the aquaculture sector. “When I started eFishery fresh out of college, I wanted to improve livelihoods for smallholder fish farmers and earn a living. I never imagined eFishery would create such significant opportunities for these smallholder farmers,” said Gibran in a press release.

(Image Source: Bloomberg)

eFishery began as a company focused on IoT smart feeder devices, utilizing sensors to measure water movement for fish and acoustics for shrimp to optimize feeding, fish health, and water quality while minimizing waste. Waste reduction is crucial in aquaculture, where feed accounts for 70% of carbon emissions. eFishery leverages data and technology from its IoT smart feeders to enhance the farming operations of smallholder fish and shrimp farmers. By providing data-driven insights into farm productivity, better access to local and global markets, and visibility over farm inputs and outputs, eFishery helps farmers achieve better farming practices, increase their  production volumes, enhance profitability, and improve livelihoods for smallholder farmers.

Recently, eFishery has secured IDR 3 trillion (approximately USD 200 million) in Series D funding. This round was led by the 42XFund, based in the UAE, with contributions from SoftBank Vision Fund II and Northstar Group. This funding has propelled eFishery to unicorn status, with a valuation exceeding USD 1.3 billion, marking a first for the aquaculture tech industry. eFishery plans to use the funds to scale its operations, improve its IoT-based smart feeding systems, and broaden its market reach. The company aims to empower more smallholder fish and shrimp farmers with advanced tools, better market access, and financing options, ultimately driving productivity and sustainability in the sector. And more importantly, the company is looking to disrupt the US shrimp and fish market.

(Image Source: NYSE Wall Street)

eFishery's entry into the US market marks a significant milestone in its global expansion strategy. The company's cutting-edge technologies, including automated feeding systems and advanced data analytics, aim to address some of the most pressing challenges in aquaculture, such as feed efficiency, growth monitoring, and environmental sustainability. By leveraging IoT (Internet of Things) and machine learning, eFishery provides farmers with real-time insights and automated controls that optimize feeding processes, reduce waste, and improve overall productivity.

With a strong foundation in Indonesia, where it has successfully improved the livelihoods of thousands of fish farmers, eFishery is poised to make a substantial impact in the US aquaculture industry. The startup's innovative approach not only promises to enhance operational efficiency for fish farmers but also contributes to the broader goals of sustainable and responsible aquaculture practices. Aqua-Spark, an early investor in eFishery, highlights the company's impressive 2022 performance. That year, eFishery sold 62 million fish, 14 million shrimp, and 179 million kilograms of feed. Additionally, eFishery managed 12,000 ponds in collaboration with fish and shrimp farming communities, showcasing its significant impact on the aquaculture industry.

As eFishery navigates this new market, it brings with it a commitment to innovation, sustainability, and the empowerment of farmers. Its presence in the US is set to catalyze advancements in aquaculture, offering a glimpse into the future of fish farming where technology and sustainability go hand in hand.

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