Singapore – January 18, 2022 – Cooley advised eFishery, an Indonesian agtech startup company, on its $90 million Series C financing round, which marks the largest fundraise by an aquaculture technology startup in the world. Partner Matthew Bartus led the Cooley team advising eFishery.
Temasek, SoftBank Vision Fund 2 and Sequoia Capital India co-led the round, with participation from existing investors, including the Northstar Group, Go-Ventures, Aqua-Spark and Wavemaker Partners. With the new capital, eFishery intends to scale up its platform and strengthen its digital products to become the world’s largest digital cooperative for fish and shrimp farming. The company also aims to expand regionally, targeting the top 10 countries for aquaculture.
“This new funding will allow us to scale our impact, expand regionally and achieve our target of being a leading aquaculture technology company by improving the livelihoods of the farmers that we empower,” Gibran Huzaifah, co-founder and CEO of eFishery, said in a news release. “We are excited to partner with Temasek, Softbank Vision Fund 2 and Sequoia Capital India, who we believe can add a significant boost to our mission.”
Founded in 2013, eFishery disrupts traditional fish and shrimp farming methods, and provides cutting-edge solutions in the aquaculture ecosystem by offering an integrated platform with access to technology, feed, financing, and the market for fish and shrimp farmers. The company aims to build an aquaculture ecosystem in Indonesia that is not only profitable but also sustainable to the farmers and to all stakeholders.
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