- by Candice Lee
- 23 November , 2022
Indonesian aquatech firm eFishery has raised an additional US$47.7 million for its series D round, according to regulatory filings from VentureCap Insights.
This brings the total funds raised for the round to nearly US$176 million and values the founders’ shares at over US$200 million combined.
Tech in Asia has reached out to eFishery for official comments.Funding details Funding amount: $47.7 million Stage: Series D extension Valuation: $1,330,000,000
Founded by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah in 2013, eFishery supports aquaculture farmers through solutions such as B2B and supply marketplaces, smart feeding systems, and financing.
In a joint report with the University of Indonesia, the company said that it had contributed US$228.6 million to the gross domestic product of Indonesia’s domestic aquaculture sector in 2022.
This funding comes amid the declining number of fish farmers in the country. However, Indonesia remains the second-largest aquaculture producer worldwide.
See also: Indonesia’s aquaculture industry rises to the helm amid farmer declineMore details eFishery→
The company was founded in 2013 by Gibran Huzaifah and Muhammad Ihsan Akhirulsyah.Stage Amount (US$) Investors Grant $1.2M Get in The Ring Series A $4M Wavemaker Partners, Unreasonable Capital, Triputra Group, Social Capital, Maloekoe Ventures, Aqua-Spark, 500 Global Bridge Undisclosed Aqua-Spark, Ideosource, Wavemaker Partners Series B $12M Endeavor Catalyst, Argor Capital Management (Go-Ventures), Northstar Group, Wavemaker Partners, Aqua-Spark Series C $90M Argor Capital Management (Go-Ventures), Aqua-Spark, Northstar Group, Temasek Holdings, SoftBank Vision Fund, Sequoia Capital, Wavemaker Partners Debt $32M DBS Bank, InnoVen Capital SEA Series D $175.7M 500 Southeast Asia, Kumpulan Wang Persaraan (Diperbadankan), 42XFund, SoftBank Vision Fund, Northstar Group, ADQ Total $314.9M