eFishery founder and CEO Gibran Huzaifah
Indonesia’s eFishery, a company focused on aquaculture, has secured a green and social loan worth US$30 million from HSBC Indonesia.
This aquatech startup intends to use the funding to accelerate the adoption of its automatic feeding product for small-scale farmers called eFeeder, which can reduce the crop cycle by up to 74 days.
Additionally, eFishery aims to engage over one million aquaculture ponds in Indonesia by 2025.
Founder and CEO Gibran Huzaifah emphasized that the eFeeder technology will empower small fish and shrimp farmers to increase productivity and sustainability.
HSBC Indonesia will also serve as the Sustainable Finance Coordinator for eFishery, assisting in the implementation of ESG principles as part of the agreement.
Established in 2013, eFishery is a leading digital cooperative for fish and shrimp farmers in Indonesia, providing an integrated aquaculture ecosystem for over 70,000 farmers across 280 cities.
The company’s goals include addressing food security, offering affordable technology to the aquaculture industry, and promoting economic inclusivity through a digital economy model.
eFishery also recently acquired AI-powered IoT startup DycodeX to enhance its AI initiatives and is set to launch a new brand, eFishery.ai.
In a Series D funding round last July, eFishery secured US$200 million led by global fund manager 42XFund and co-invested by various entities including Temasek and SoftBank.
Within the same year, the company obtained a US$32 million loan from DBS Bank Indonesia, further demonstrating its growth and expansion plans.
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