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Aquaculture unicorn eFishery reels in US$200m in funding
Indonesia’s aquaculture startup eFishery has recently raised $200 million in its Series D funding round, cementing its place as a unicorn in the aquatech industry.
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By the age of 29, Gibran Huzaifah had successfully brought about a sea change in the country’s aquaculture industry with his smart fish feeder, eFishery. (JP/Yuliasri Perdani)
H
omegrown aquaculture unicorn eFishery raised another US$200 million in its latest Series D funding round, as the company aims to expand Indonesia's aquaculture industry.
The fund was led by Abu Dhabi-based global fund manager 42XFund and backed by Malaysia's largest public sector pension fund, Kumpulan Wang Persaraan (KWAP), Switzerland-based asset manager responsibility and US-based venture capital firm 500 Global.
Other new investors, along with existing investors such as Northstar, Temasek and SoftBank, were also involved in the latest funding, the company said, adding that Goldman Sachs acted as exclusive financial advisor to eFishery on the transaction.
Following the funding, eFishery said it aimed to target over 1 million aquaculture ponds in Indonesia by 2025 and to export fully traceable antibiotic-free shrimp products overseas.
“Currently, aquaculture is the fastest-growing sector in the global fisheries industry,” eFishery CEO Gibran Huzaifash said in a statement on Friday.
“The strategic support we receive from our investors will help us revolutionize the entire industry, especially by integrating Indonesian smallholder fish farmers into the eFishery ecosystem that spans the entire value chain,” he continued.
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