EFishery Raises IDR 3 Trillion In Series D Funding Led By An Abu Dhabi Company

DIKSIA.COM - JAKARTA, eFishery, an Indonesian aquaculture company, has received Series D funding worth US$200 million, or approximately IDR 3 trillion.

These funds will be used to further the company's goal of developing farming communities in Indonesia and to increase fish feed and fresh fish transactions at eFishery.

The Series D funding round was led by 42XFund, a global investment management firm based in Abu Dhabi, UAE, backed by Kumpulan Wang Persaraan (Incorporated) (KWAP), the largest Malaysian pension fund company.

Then responAbility (rA) as an asset management company from Switzerland and 500 Global as a multi-level venture capital company, as well as several other new investors.

“Early investors such as Northstar, Temasek and Softbank also participated in this funding round. Meanwhile, Goldman Sachs acted as exclusive financing advisor,” said Gibran Huzaifah, co-founder and CEO of eFishery, in a press release on Saturday (8/8). 7/2023).

According to him, this latest investment demonstrates investor confidence in eFishery's integrated aquaculture ecosystem.

An integrated ecosystem of eFishery that includes a fish and shrimp food marketplace, a platform for selling fresh fish and shrimp products on a B2B or business-to-business basis.

In addition, access to finance for fish farmers has supported more than 70,000 fish farmers and shrimp farmers in more than 280 cities/districts across Indonesia.

Based on the latest research from the Demographic Institute of the Faculty of Economics and Business, University of Indonesia (LD FEB UI), eFishery will contribute IDR 3.4 trillion or the equivalent of 1.55 percent of Indonesian aquaculture GDP during 2022 Sector.

Gibran Huzaifah added that aquaculture is currently the fastest growing sector in the global fisheries industry.

“The strategic support we receive from investors will help eFishery revolutionize the entire industry by integrating fish farmers and small shrimp farmers into the eFishery ecosystem, which covers the entire aquaculture business value chain,” he said.