eFishery is a technology company.
eFishery has raised $110.0M across 4 funding rounds.
eFishery has raised $110.0M in total across 4 funding rounds.
eFishery has raised $110.0M in total across 4 funding rounds.
eFishery's investors include Aqua Spark, Connolley, Future Shape, Graph Ventures, Alan MacIntosh, Bradley Horowitz.
eFishery is an Indonesian aquaculture technology company founded in 2013 that builds IoT-enabled smart feeding systems, fintech solutions, and marketplace platforms for fish and shrimp farmers.[1][2][4] It serves small-scale farmers across Indonesia, addressing inefficiencies in traditional fish farming by optimizing feed distribution, providing microloans, and connecting producers to markets, which reduces waste, boosts productivity, and supports sustainability.[1][2][3] The company has raised over $590M in funding, serves 13,000+ farmers and 60,000 ponds, and claims to be Indonesia's largest feed distributor without owning ponds, though recent financial allegations and co-founder suspensions have clouded its growth trajectory.[1][3]
eFishery was founded in 2013 in Bandung, Jawa Barat, Indonesia, by entrepreneurs aiming to modernize the country's vast aquaculture sector, which relies on traditional methods amid abundant aquatic resources.[1][2] The core idea emerged from developing an innovative automatic feeding system to cut feed waste and improve efficiency for smallholder farmers, expanding into a full ecosystem with IoT, AI-driven insights, financing, and marketplaces.[2][3][4] Early traction came from deploying smart feeders, growing to serve thousands of users; pivotal moments include raising $415M+ and becoming a unicorn, but recent years saw rapid scaling challenges and 2024-2025 scandals involving financial fraud accusations, leading to co-founder suspensions.[1][3]
eFishery rides the agtech and aquaculture tech wave in Southeast Asia, where Indonesia's fisheries dominate global supply but face inefficiencies from manual labor and waste.[1][2] Timing aligns with rising demand for sustainable protein sources amid population growth and climate pressures, bolstered by investor interest in food security tech—evident in its unicorn status and Temasek backing.[1][3] Market forces like government fintech regulations and environmental mandates favor data-driven innovators, while eFishery influences the ecosystem by uplifting small farmers and pushing IoT adoption, though scandals highlight governance risks in emerging markets.[1][2][3]
eFishery exemplifies agtech ambition but serves as a cautionary tale on scaling pitfalls like overexpansion and governance lapses, with ongoing probes potentially eroding trust.[2][3] Next steps likely involve stabilizing operations post-leadership changes, cautious IPO pursuits, and doubling down on sustainability to rebuild momentum.[1][3] Trends like AI-enhanced farming and regional VC governance pushes will shape its path; success hinges on transparent recovery, potentially evolving it into a resilient ecosystem leader if it navigates regulatory and operational fixes.[1][2][3]
eFishery has raised $110.0M across 4 funding rounds. Most recently, it raised $90.0M Series C in January 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2022 | $90.0M Series C | Aqua Spark, Connolley, Future Shape, Graph Ventures, Alan MacIntosh, Bradley Horowitz | |
| Aug 1, 2020 | $15.0M Series B | Aqua Spark, Connolley, Future Shape, Graph Ventures, Alan MacIntosh, Bradley Horowitz | |
| Nov 1, 2018 | $4.0M Series A | Aqua Spark, Connolley, Future Shape, Graph Ventures, Alan MacIntosh, Bradley Horowitz | |
| Nov 1, 2014 | $1.0M Seed | Aqua Spark, Connolley, Future Shape, Graph Ventures, Alan MacIntosh, Bradley Horowitz |