Agritech Startup eFishery Raised US$90 Million in Series C

The Indonesian startup has reeled in a long list of global investments as it continues to disrupt the seafood agriculture industry


Vrisha Phrabhakaran

12 Jan, 2022

Agritech Startup eFishery Raised US$90 Million in Series C | BEAMSTART News

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Founded in 2013, eFishery made waves in the Indonesian seafood industry by providing companies with equipment, software and technologies that solve a variety of tasks faced by the industry.

Disrupting the Seafood Agriculture Industry

The company started with digital feeding devices through IoT technology.

It has since expanded its services to monitoring operations, disease prevention and distribution of goods.

The company has also provided financing services for farmers in the industry.

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Fresh Funds Secured to Expand Regionally

The company announced this week that its series C round has attracted reputable investors in the startup space.

New investors include Singapore's state investor Temasek, Sequoia Capital India and SoftBank Vision Fund 2.

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Main purpose of the new investments is to expand eFishery’s services to other countries with a large seafood agriculture sector.

The expansion is set to include countries like China and India.

Seafood agriculture is a US$20 billion industry with a complicated supply chain system.

According to Aakash Kapoor, VP at Sequoia India, the expansion of eFishery has become a game-changer by "improving efficiency and operations" and could seriously disrupt the market.

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Also Mentioned


Temasek Holdings

Temasek is an investment company based in Singapore, with a focus on delivering sustainable returns over the long term.


SoftBank

A Japanese multinational telecommunications and Internet corporation

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