Indonesia e-fishing raises $ 90M from Temasek, SoftBank Vision Fund 2 and Sequoia Capital India - TechCrunch
Indonesia-based eFishery announced today that it has built what it claims to be the largest funding round by the aquaculture technology start-up company in the world. The company, which provides feedstock, software and finance to fish and shrimp farmers, received a $ 90 million C Series Series co-managed by Temasek, SoftBank Vision Fund 2 and Sequoia Capital India, with a com- part from returning investors Northstar Group, Go-Ventures. , Aqua-Spark and Wavemaker Partners
The money will be used to expand and expand the eFishery platform to the top 10 countries for aquaculture, including China and India.
EFishery's products include software such as eFarm, which allows shrimp farmers to monitor their activity, and eFisheryKu, which does the same for fish farmers. Its financing products include eFund, which connects fish farmers to financial institutions for products such as a later payment service to purchase supplies. It says more than 7,000 farmers have used eFund to date, with total loans agreed in excess of $ 28 million.
Other products include smart foods that are now used by more than 30,000 Indonesian farmers.
In a statement, Anna Lo, director of investment at SoftBank Investment Advisors, said, “Indonesia is one of the largest fish producers in the world and we believe its aquaculture industry can play an important role in feeding the growing population of the world. ”
Indonesian start-up agtech companies that have recently embarked on major funding rounds include TaniHub and Eden Farm marketplaces, Aruna and Chilibeli social trading start-up “sea-to-board” fishing company.