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Indonesian aqua tech firms in talks for $15-M funding


January 30, 2020
By Nestor Arellano


Topics

eFishery, a startup company that develops automatic fish feeding technology, has started discussions with venture capital firms to raise new funding.

The company describes itself as the “first aquaculture intelligence company in Indonesia.”  eFishery entered the market in 2013. The company develops technology for fish and shrimp farming.

In 2018, eFishery raised $4 million in a Series A funding round.

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Now, the company wants to raise $15 million in funding, according to a report from the Nikkei Asian Review.

The financial news service said eFishery is in talks with Asian private equity funding firm Northstar Group and venture capital firm Go-Ventures.

Both Northstar and Go-Ventures are believed to have done their due diligence on eFishery, according to the report.

Among the company’s products are a smart feeder that uses a cloud-based solution and a data platform.

For example, the company’s eFisheryFeeder for Fish is an automatic fish feeder that can be controlled via a smartphone.

With eFisheryFeeder for Fish, you can manage the feeding schedules with a dose of feed specifically tailored for the stock.

Every feed released by eFisheryFeeder is recorded automatically so operators can keep track of daily feed expenses without having to record it manually.

eFishery also has a sub-company called eFisheryFresh.

eFisheryFresh helps local fish farmers sell their harvest to consumers and business customers.