Temasek-backed eFishery raises US$108 million Series D round, becomes unicorn

AGRITECH startup eFishey is a newly minted unicorn after its latest Series D funding round which raised US$108 million, based on regulatory filings from data platform VentureCap Insights.

The lead investor is 42X fund, a joint fund between Abu Dhabi tech company G42 and sovereign wealth fund Abu Dhabi Growth Fund. Returning investors SoftBank and Northstar also participated in this round.

The valuation for eFishery has more than tripled after the Series D round, from US$407 million pre-funding to US$1.3 billion post-funding.

The Indonesia-based startup offers access to technology, feed, financing and markets for fish and shrimp farmers in the island archipelago. Based on eFishery’s 2021 impact report, the startup has disbursed over 70 billion rupiah (S$6.3 million) with over 6,000 fish and shrimp farmers, groups and cooperatives part of their ecosystem.

The Business Times has reached out to eFishery for comment.