eFishery Reaches Unicorn Status after Securing US$200 Mln Funding

West Java-based aquaculture startup eFishery recently secured US$200 million or approximately Rp 3 trillion in a Series D funding round. This successful fundraising achievement propels eFishery to unicorn status, making it the first startup in the global aquaculture industry to achieve a valuation of US$1.4 billion.

The funds will significantly contribute to eFishery's mission of building a robust community of farmers in Indonesia. Co-Founder and CEO of eFishery Gibran Huzaifah said aquaculture is the fastest-growing sector in the global fisheries industry. With strategic support from investors, eFishery aims to revolutionize the entire industry by seamlessly integrating small-scale fish and shrimp farmers into the eFishery ecosystem.

eFishery boasts an all-encompassing ecosystem that covers the entire value chain of the aquaculture business, ranging from seeds to financing. "The Series D funding will be used to develop eFishery's community of fish and shrimp farmers, with a target of more than 1 million aquaculture ponds in Indonesia by 2025," Gibran stated in a written statement on Saturday. Furthermore, eFishery plans to leverage this funding to boost the volume of transactions involving fish feed and fresh aquaculture products on its platform.