In January 2022, eFishery announced that they have completed a landmark Series C funding round of $90 million USD – the largest cap raise by an aquaculture technology startup ever. This round of investment was co-led by Temasek, SoftBank Vision Fund 2, and Sequoia Capital India, with participation from existing investors including the Northstar Group, Go-Ventures, Aqua-Spark, and Wavemaker Partners.
The funds raised will be used to scale up eFishery’s platform and to strengthen its digital products, making it the largest digital “cooperative” for fish and shrimp farming. eFishery also aims to expand regionally, targeting the top 10 countries in aquaculture, such as India and China.
After being crowned as the winner of the Get in the Ring Global Startup Competition in 2014, eFishery captured the fish farming market in Indonesia and have expanded to neighboring countries. In this period, they have exhibited substantial growth, evolving into an end-to-end platform providing fish and shrimp farmers with access to feed, financing and markets.
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eFishery dominated their weight class in their Get in the Ring national finals in Surabaya, Indonesia in 2013. This cleared their path to the regional finals and finally to the Global Meetup 2014 in Rotterdam, where they were the overwhelming audience and jury member favorite, earning the title of Winner.
eFishery’s Series C cap raise comes hot off the heels of their Series B announcement: In August 2021, it was announced that eFishery had successfully raised an undisclosed amount in a Series B round lead by Northstar Group and Go-Ventures.
Over the years, eFishery’s Founder, Gibran Huzaifah has been a close ally of Get in the Ring, even appearing on the Unknown Stories podcast for a special episode in October 2020.
To check out the full episode of Gibran’s eFishery story and his entrepreneurial journey, click here.