eFishery achieved unicorn status after raising $200 million in its Series D funding round in July 2023, becoming the first startup in the global aquaculture industry to attain unicorn valuation. The startup is currently the largest digital technology company for aquaculture sector in world, helping more than 100,000 farmers, 300,000 ponds, and employing more than 2,000 staff members. The platform includes an IoT auto feeding system, marketplaces for fish and shrimp feed, fresh products for B2B consumers, and financial products for fish farmers.
Cyborg Score Rationale
eFishery is the first company in the world in aquaculture technology category to reach valuation higher than $1 billion. The company commands dominant market position with over 100,000 farmer users across Indonesia and a comprehensive end-to-end platform. However, continued growth depends on market adoption in a traditionally low-tech sector and expansion beyond Indonesia.
Top Insights
Indonesia has the second largest fishing and aquaculture industry in the world, ranking only behind China.
eFishery manages a network of 12,000 farms across 28 provinces and more than 400 cities/districts in Indonesia.
Platform combines IoT auto feeding systems with B2B marketplaces for feed, fresh products, and farmer financing.
Series D investors include Malaysian pension fund KWAP, Swiss asset manager responsAbility, and 500 Global, joining existing shareholders Temasek, SoftBank, and Northstar.
Named Competitors
Traditional aquaculture operations — Manual fish and shrimp farming without technology platform
Aqua-Spark — Aquaculture investment and innovation fund supporting emerging technologies
Recent Developments
(July 2023) Raised $200 million Series D funding, achieving unicorn valuation
(May 2024) LinkedIn profile indicates 2,000+ employee count and operations across 28 provinces
(March 2026) Continues operations with focus on sustainability and smallholder farmer integration
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