- Companies
- eFishery
eFishery Revenue, Valuation, Funding & Investors
eFishery is valued at $1.4B as of July 2023.
Last eFishery valuation
$1.4B
Series D · Jul 2023
Last eFishery funding round
$92M
Series D · Jul 2023
eFishery revenue
$157M
Series D · May 2023
Key investors in eFishery
Aqua Spark
Northstar Group
SoftBank Group
Wavemaker Partners
500 Global
Temasek
About eFishery
eFishery is a Jakarta-based aquaculture technology provider founded in 2013 that equips fish and shrimp farmers with smart feeding systems, IoT sensors, and cloud-based analytics platforms. Its eFeeder devices automate feeding schedules across Indonesia, Vietnam, and India, serving more than 100,000 ponds. The company achieved unicorn status in 2023 after raising $137 million in Series D funding from investors including SoftBank. eFishery delivers financing, insurance, and supply chain services through its full-stack ecosystem, enhancing yields by up to 30 percent while minimizing feed waste in Southeast Asia's $20 billion aquaculture market.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Subscription
Revenue
$157M (May 2023)
Valuation
$1.4B (Jul 2023)
eFishery Valuation
eFishery is currently valued at $1.4B, based on its Series D in July 2023.
The $92M round was led by G42 Expansion Fund, with participation from Temasek, SoftBank Group, Northstar Group, responsAbility Investments AG, KWAP and 1 other investor.
eFishery's valuation has grown 3.5x from $400M at its Series C in January 2022 to $1.4B in July 2023, across 3 priced rounds.
eFishery valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2023 | Series D | $1.4B | - |
| May 2023 | Series D | $1.3B | 8.0x |
| Jan 2022 | Series C | $400M | - |
eFishery Revenue
eFishery's latest recorded revenue is $157M, as of its Series D in May 2023. At a $1.3B valuation, that implies a 8.0x revenue multiple.
eFishery revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2023 | $157M | $1.3B | 8.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
eFishery Funding History
eFishery has raised a total of $310M across 6 funding rounds.
eFishery's first fundraising round was a $1M seed round in November 2014. The most recent completed round was a $92M Series D in July 2023.
eFishery funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2023 | Series D | G42 Expansion Fund (lead); Temasek; SoftBank Group; Northstar Group; responsAbility Investments AG; KWAP; 500 Global | $92M | $1.4B | eFishery is an Indonesian aquatech startup founded in 2013 that provides smart feeding systems, end-to-end digital platforms for fish and shrimp farmers, including access to feed, financing, markets, and sustainable practices to boost productivity. The company deploys thousands of automated feeders, serving over 30,000 farmers in Indonesia, with ambitions to reach 1 million aquaculture ponds domestically by 2025 and expand to markets like India, China, and Vietnam. In 2022, it recorded strong operational metrics including 62 million fish sold, 14 million shrimps sold, and 179 million kilograms of feed sold, while managing 12,000 ponds. The queried Series D round around March/July 2023, led by G42 Expansion Fund (also referred to as 42XFund), raised approximately USD 92-108 million with participation from investors including 500 Southeast Asia (500 Global), KWAP (Kumpulan Wang Persaraan), Northstar Group, responsAbility Investments AG, SoftBank Vision Fund II, and Temasek Holdings. Sources describe multiple tranches in 2023: a May 2023 portion of USD 108 million (42XFund USD 100M, SoftBank USD 5M, Northstar USD 3M) and a July 2023 portion of USD 92 million, potentially part of a larger USD 200 million Series D announced in July 2023. Post-Series C (USD 90M in January 2022 at USD 400M valuation), eFishery achieved unicorn status with valuations reported over USD 1 billion, such as USD 1.26B, USD 1.3B, and USD 1.4B across filings and reports. Funds from the Series D were allocated to expand the farming community, enhance technological capabilities, scale operations, increase feed and output volumes, and develop a traceable, chemical-free shrimp export business. Goldman Sachs served as financial advisor. The company aims for 300% annual growth and global digital cooperative membership of over 1 million farmers by 2025. |
| May 2023 | Series D | G42 Expansion Fund (lead); SoftBank Group; Northstar Group | $108M | $1.3B | eFishery is an Indonesian aquatech startup founded in 2013 by CEO Gibran Huzaifah that provides technology and services to aquaculture farmers. The company's platform includes a digitally controlled smart feeder system for fish and shrimp farming, an end-to-end digital management system for farming operations, an online marketplace for buying and selling aquaculture products, and access to financial services for farmers. eFishery's offerings aim to help farmers increase productivity, access competitive sales channels, and adopt more sustainable practices, with reported claims that the platform can boost farmer incomes by up to 45 percent and reduce carbon footprint by 92 percent compared to the meat industry. In May 2023, eFishery completed a Series D funding round led by UAE-based G42 Global Expansion Fund (42xFund), which contributed $100 million, alongside participation from SoftBank Vision Fund II ($5 million) and Northstar Group ($3 million), for a total announced round size of $108 million. According to regulatory filings cited by DealStreetAsia, the company achieved a post-money valuation of $1.26 billion following the funding and adjustments from employee share option plans and management share option plans. This made eFishery Indonesia's latest unicorn and the first startup in the global aquaculture industry to achieve a $1 billion valuation. At the time of the Series D round, eFishery was serving more than 6,000 fish and shrimp farmers across 250 cities in Indonesia according to the company's impact report, with other sources indicating the platform served up to 70,000 farmers in 280 cities. The company had previously raised $90 million in a Series C round in January 2022, which valued it at over $400 million, demonstrating significant valuation growth in the intervening 16 months. According to regulatory filings, eFishery indicated potential for raising up to an additional $200 million in the Series D round; later reports in July 2023 confirmed the company ultimately raised $200 million in total Series D funding at a valuation exceeding $1 billion. eFishery's goal was to reach one million aquaculture pond members in its digital cooperative by 2025 and expand operations beyond Indonesia. The startup operates in a significant market, as Indonesia is one of the world's largest aquaculture producers, though the industry has historically faced challenges including mangrove deforestation and inadequate waste management practices. The company's mission centers on linking small and fragmented farmers directly to buyers and financial services while promoting sustainable farming practices across Indonesia's 34 provinces. |
| Jan 2022 | Series C | Peak XV Partners (lead); SoftBank Group (lead); Temasek (lead); Northstar Group; Argor Capital; Aqua Spark; Wavemaker Partners; GO Ventures | $90M | $400M | eFishery is an Indonesian aquaculture technology startup founded in 2013 by Gibran Huzaifah, providing smart feeding devices, software platforms like eFarm and eFisheryKu for monitoring operations, financing via eFund connecting farmers to loans, and marketplaces for feed and fresh products. It serves fish and shrimp farmers primarily in Indonesia, with over 30,000 farmers using smart feeders and more than 7,000 accessing eFund loans totaling over $28 million as of early 2022. The company aims to optimize feed efficiency, increase yields, and expand into markets like China and India. In January 2022, eFishery raised $90 million in its Series C funding round, co-led by Temasek, SoftBank Vision Fund 2, and Sequoia Capital India (now Peak XV Partners), with participation from existing investors including Northstar Group, Go-Ventures (GO Ventures), Aqua-Spark, and Wavemaker Partners. The round valued the company at $400 million post-money, claimed as the largest for an aquaculture tech startup at the time. Funds were allocated to scale the platform and expand internationally to the top 10 aquaculture countries. eFishery continued growth with a short-term IDR 500 billion ($32.7 million) loan from DBS Bank Indonesia in October 2022 for expansion. Subsequent Series D rounds in 2023 raised $108-200 million led by 42XFund, achieving unicorn status at $1-1.33 billion valuation, with Northstar and SoftBank participating. |
| Aug 2020 | Series B | Argor Capital (lead); Northstar Group (lead); Endeavor Catalyst; International Finance Corporation; Aqua Spark; Wavemaker Partners; Bossa Invest | $15M | - | eFishery raised USD 15 million in its Series B funding round in August 2020, led by Argor Capital and Northstar Group. Other investors included Aqua Spark, Bossa Invest, Endeavor Catalyst, International Finance Corporation, and Wavemaker Partners. The funding aimed to expand operational capacity and market presence for the Indonesian aquaculture technology company, which provides IoT-based auto-feeders and digital solutions to optimize fish and shrimp farming. |
| Nov 2018 | Series A | Maloekoe Ventures; Unreasonable Capital; Social Capital; Aqua Spark; Wavemaker Partners; Triputra Group; 500 Global | $4M | - | eFishery, an Indonesian aquaculture startup founded in 2013, raised $4 million in a funding round on November 13, 2018, backed by investors including 500 Global, Aqua-Spark, Maloekoe Ventures, Social Capital, Triputra Group, Unreasonable Capital, and Wavemaker Partners. The company provides smart devices for automated feeding in fish and shrimp farms, monitored via a smartphone app, which also collect data on production patterns and fish behavior. The funds were intended to scale operations, expand nationally, build a data platform, and support recruitment. eFishery reported 261 times revenue growth over the prior two years and claimed profitability at the time of the round. Its devices were deployed across 67 regencies and cities in 16 Indonesian provinces, with pilots in Bangladesh, Thailand, and Vietnam. The startup aimed to connect the entire fish and shrimp farming ecosystem for greater accountability and profitability. Singapore-filed financials showed sales of $185,405 in 2018, increasing 50-fold to $10 million in 2019. |
| Nov 2014 | Seed | Aqua Spark (lead); Ideosource VC | $1M | - | - |
Who has invested in eFishery?
20 investors have backed eFishery across its funding rounds, including Aqua Spark, Northstar Group, SoftBank Group, Wavemaker Partners, 500 Global and Temasek.
Lead investors include G42 Expansion Fund, Peak XV Partners, SoftBank Group, Temasek, Argor Capital and 2 other investors.
eFishery Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Aug 2020 | ||
| 4 | Lead | Nov 2014 | ||
| 3 | Lead | Jan 2022 | ||
| 3 | Participant | Nov 2018 | ||
| 2 | Lead | Jan 2022 | ||
| 2 | Lead | May 2023 | ||
| 2 | Lead | Aug 2020 | ||
| 2 | Participant | Nov 2018 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Participant | Jul 2023 | ||
| 1 | Participant | Aug 2020 | ||
This data is available for Pro users. Sign up to see all 20 eFishery investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by eFishery
eFishery has acquired 1 company to date.
Last acquisition by eFishery was on March 21st 2024. eFishery acquired DycodeX for undisclosed valuation.
Latest Acquisitions by eFishery
| Description | DycodeX is a Jakarta-based developer of smart hardware and IoT solutions as a subsidiary of PT Dycode Cominfotech Development. Founded in 2015, the company produces embedded systems like environmental sensors and automation controllers for Indonesian agriculture and smart cities. DycodeX organizes maker events such as Indonesia IoT Summit, fostering local hardware innovation. Its products integrate ESP32 microcontrollers with AWS IoT Core, deployed in over 500 farms for soil moisture monitoring. The firm exports to Southeast Asia, emphasizing open-source contributions on GitHub. |
| HQ Country | |
| HQ City | Bandung |
| Deal Date | 21 Mar 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all eFishery acquisitions and their M&A valuation multiples. Start Free Trial | |
eFishery Competitors
eFishery competitors include listed companies like Genus and Raspberry Pi, and private ones like Distynct, Infarm, Semios and Greenlabs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.8B | - | ||
| Private | - | - | $1B | - | ||
| Private | $37M | - | $1B | 27.0x | ||
| Private | $218M | $145M | $840M | 3.9x | ||
| Publicly listed | $903M | $122M | $1.9B | 2.2x | ||
| Publicly listed | $323M | $53M | $1.4B | 2.6x |
eFishery Public Comps
eFishery is still privately-owned, but its public comps include Raspberry Pi, Tessenderlo Group, Arlo, CVR Partners, Sensirion, Société de fabrication des boissons de Tunisie, Sipef, Wuxi Boton Technology, FMC and MP Evans.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $323M | $53M | 4.3x | 2.6x | 26.2x | 25.4x | |||
| $3.2B | $181M | 0.5x | 0.5x | 8.3x | 4.4x | |||
| $529M | $14M | 2.5x | 2.3x | 92.0x | 13.3x | |||
| $606M | $211M | 3.1x | 3.1x | 8.9x | - | |||
| $417M | $57M | 3.3x | 3.1x | 23.8x | 16.4x | |||
| $505M | $160M | 2.6x | 2.6x | 8.2x | 8.1x | |||
| $570M | $245M | 2.2x | 2.0x | 5.0x | 4.9x | |||
| $516M | $55M | 2.4x | - | 22.6x | - | |||
This data is available for Pro users. Sign up to see all eFishery competitors and their valuation data. Start Free Trial | ||||||||
Common questions about eFishery
| When was eFishery founded? | eFishery was founded in 2013. |
| Where is eFishery headquartered? | eFishery is headquartered in Bandung, Indonesia. |
| Is eFishery publicly listed? | No, eFishery is a private, VC-backed company. |
| What is eFishery's valuation? | eFishery was last valued at $1.4B in its Series D in July 2023. |
| How much funding has eFishery raised? | eFishery has raised $310M across 6 funding rounds. |
| What was eFishery's last funding round? | eFishery's last funding round was a $92M Series D in July 2023, led by G42 Expansion Fund. |
| Who are eFishery's investors? | eFishery's investors include Northstar Group, Aqua Spark, SoftBank Group, Wavemaker Partners, Temasek, G42 Expansion Fund, Argor Capital, 500 Global, Maloekoe Ventures, Unreasonable Capital and 10 others. |
| What is eFishery's revenue? | eFishery's latest recorded revenue is $157M (May 2023). |
| What is eFishery's revenue multiple? | eFishery's latest valuation implies a 8.0x revenue multiple ($1.3B valuation on $157M of revenue). |
| Which companies are comparable to eFishery? | Companies comparable to eFishery include Distynct, Infarm, Semios, Greenlabs, Genus and Raspberry Pi. |
| How many companies has eFishery acquired? | eFishery has acquired 1 company, including DycodeX. |
See companies similar to eFishery
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




