FOR IMMEDIATE RELEASE

IOT FISH FEEDER EFISHERY TRAWLS THE

BIGGEST AGTECH FUNDING ROUND IN
INDONESIA
Bandung-based aquaculture startup eFishery announces a six-figure fresh funding round from
major global investors. The smart fish-feeder manufacturer is growing at a staggering rate, and
has the biggest customer base in Asia for any aquaculture startup company.

QUICK FACTS FOR THE MEDIA:

● Launched in 2013, eFishery provides an Internet of Things (IoT) solution and data
platform for fish and shrimp farming businesses. The startup’s device allows for
automatic feeding, making it easier for farmers to monitor and schedule feeding times
using a smartphone app.
● eFishery is building machine learning, data-driven technology to enable last-mile data
gathering on farm production and fish behavior. The startup aims to leverage data to
solve some of the biggest issues in the aquaculture sector, ultimately creating a more
accountable and profitable fish and shrimp farming industry across the country.
● The company’s growth has been impressive. To date, eFishery has the biggest customer
base in Asia for any aquaculture startups. In the past two years, the company’s revenue
has grown more than 261 times, and has successfully managed to pull in a profit.
● eFishery’s latest round of investment is backed by Aqua-spark, Wavemaker Partners,
500 Startups, Maloekoe Ventures, Social Capital, Unreasonable Capital, and other
institutional investors. Totaling US$4 million, it’s the biggest recorded funding round
received by any AgTech startup in Indonesia.

JAKARTA, 7 October 2018 — Bandung-based fishtech startup eFishery just reeled in the
largest funding round on public record in Indonesia’s agriculture technology (AgTech) space.
The startup was co-founded in 2013 by CEO Gibran Huzaifah (recently included in the
prestigious Forbes’ 30 under 30 list) and Chief Technology Officer Chrisna Aditya. eFishery
provides an Internet of Things (IoT) solution and data platform for fish and shrimp farming
businesses. The technology allows for automatic fish and shrimp feeding, making it easier for
farmers to monitor and schedule feeding times using a smartphone app.

Totaling US$4 million, eFishery’s latest round of funding is backed by a series of global investors
such as Aqua-spark, Wavemaker Partners, 500 Startups, Maloekoe Ventures, Social Capital,
Unreasonable Capital, Triputra Group, and other institutional investors. According to Aqua-spark
founder and managing partner Amy Novogratz, fish production through aquaculture is the
fastest growing food system globally.

“We think the industry is going to triple in the next 30 years. 80 percent of the aquaculture
industry is in Asia, with Indonesia alone having over 4 million fish farmers. The potential of
eFishery to help resolve production issues in aquaculture is massive,” explains Novogratz on
eFishery’s ever growing market potential.

“Already, through eFishery’s optimized feeding technology, farmers are saving 24 percent of
feed each cycle, which not only helps with the economics of the farming operation, but also
decreases pollution and increases fish health. This type of solution makes sustainable farming
more profitable. It is certainly going to transform the industry,” adds Novogratz.

Paul Santos, managing partner at Wavemaker Partners, believes Gibran and Chrisna have both
the technical and personal experience to make eFishery a global player in the aquaculture
industry. They are well-educated, experienced, and mature co-founders who will make the right
decisions for the business, explained Santos. He adds:

“There are a few reasons why we invested in eFishery. Gibran and Chrisna are experienced
local co-founders. They know the aquaculture farming industry and its pain points. Their network
will be crucial in helping eFishery grow. There are more than 10 million fish and shrimp ponds in
Indonesia alone. eFishery will likely become successful, even if it never ventures outside of the
country. After speaking with some of its customers, it became clear why the company has
already sold and rented thousands of units. eFishery's machines enable farmers to produce
more fish and shrimp within the same time frame while reducing costs across the farm.”

Overfeeding is an issue that directly affects the freshwater fish and shrimp farming industry, with
fish feed representing around 70 percent of farming overheads. According Gibran, the startup’s
data-driven device brings a direct, cost-efficient solution to farmers, with the potential of bringing
in new services that will contribute to a more accountable and profitable fish and shrimp farming
industry in the country.

“Our data-driven technology enables last-mile data gathering on fish production and fish
behavior from all across the country. We realized that this data can be leveraged to solve some
of the biggest issues in the sector: including risk management, supply inefficiency, lack of
financing, and market access. So far, we’ve been working on pilots with financial institutions to
offer financing and partnering with some restaurant chains to get a better prices for the farmers.
Hopefully, we can scale these new services and offer more value through our tech and
platform,” explains Gibran.
The market response has been encouraging. The company runs a nationwide operation in
Indonesia, with pilot projects in Bangladesh, Thailand, and Vietnam. To date, eFishery owns the
biggest customer base in Asia for any aquaculture startup.

“The future of food demands that we use technology. As populations continue to grow, protein is
a key ingredient to feed that growth. eFishery is at the forefront of meeting that demand, making
it scalable to feed millions more. And they’re proving this at scale by increasing productivity in a
multi billion dollar aquaculture industry to start with.” says Khailee Ng, Managing Partner at 500
Startups.

“Currently, we’re operating in Java, Bali, Lampung, Bengkulu, NTB, and South Kalimantan.
We’re also planning to expand to other parts of Sumatra, Kalimantan, and Sulawesi in the next
12 months to deliver more impact for farmers all across Indonesia. In the past two years, we
have grown more than 261 times in revenue, and have persistently managed to pull in
remarkable profit to date,” says Gibran.

According to Gibran, each investor that participated in eFishery’s last round of funding will help
advance the startup’s growth. “We believe that each investor will bring unique value, network,
and learning for us. Aqua-spark, for instance, is one of the few aquaculture VCs with a deep
understanding about this sector, as well as an established global portfolio across the value
chain. Wavemaker Partners, 500 Startups, and Maloekoe Ventures have also successfully
helped some of the biggest startups in the region to grow. Unreasonable Capital has strong
experience supporting startups in emerging markets that develop complex technology and
operations for people in the rural areas, and our other investors including Triputra Group are
also bringing in their in-depth knowledge in manufacturing, agriculture, banking, and the
logistics sectors.”

“Ultimately, with this new round of investment, we want to further scale and refine our operating
model. We aim to be a platform that connects the entire ecosystem in fish and shrimp farming,
creating a more accountable and profitable industry across the region,” adds Gibran.

About eFishery:

eFishery is the internet of things (IoT) startup for fish and shrimp farming, providing a smart
feeding solution to help farmers make informed decisions about their aquaculture ponds. By
using eFishery’s technology, farmers can save up to 24% of the feeding cost, boost productivity,
and get convenience in their business.
 Contact: Release prepared by:
Email: info@contentcollision.co

Gibran Huzaifah
E: gibran@efishery.com
T: +6281323157635
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