Indonesian Aquatech Business eFishery Receives additional $47 Million Funding

In accordance with regulatory documents from VentureCap Insights, Indonesian aquatech business eFishery has received an extra US$47.7 million for its series D financing. This puts the total amount collected for the round to over US$176 million, valuing the founders' shares at more than US$200 million.

eFishery, founded in 2013 by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah, provides aquaculture producers with solutions such as B2B and supply marketplaces, smart feeding systems, and finance. According to a collaborative analysis with the University of Indonesia, the company contributed US$228.6 million to Indonesia's domestic aquaculture sector's gross domestic product in 2022.

This support comes at a time when the country's fish growers are on the decline. However, Indonesia remains the world's second-largest aquaculture producer.