startups

Aquaculture startup eFishery completes Series B funding round – Undercurrent News


Indonesia-based aquaculture startup eFishery, which offers devices and cloud-based services to support shrimp and fish farmers, has closed a Series B funding round led by the funds Go-Ventures and Northstar Group. 

The company plans to use the money, the amount of which was not disclosed, to strengthen operations and build “stronger data capabilities and algorithms” for its core product, the eFisheryFeeder, a “smart pond” device that automates feeding.

The funding round also included eFishery’s existing investors who included the aquaculture-focused fund Aqua-Spark and VC Wavemaker Partners. 

“eFishery’s solutions, which directly support local fish farmers, also address wider issues, including strengthening food supply chains, alleviating global food shortages and helping to boost both Indonesia’s fishing industry and overall economy. As eFishery expands first within Indonesia and subsequently regionally, we look forward to seeing these benefits grow exponentially,” Aditya Kumar, vice president of investments at Go-Ventures said in a release.

eFishery offers farmers an “end-to-end” platform that provides small fish and shrimp farmers with access to feed, financing and markets. The company currently works with thousands of farmers across 24 provinces in Indonesia and has been profitable for the last two years, the release stated. 



READ SOURCE

Read More   How Do I Start My Own Consulting Business Uk? – ictsd.org - ICTSD Bridges News

This website uses cookies. By continuing to use this site, you accept our use of cookies.