Launched in 2013, eFishery offers fish and shrimp farming businesses a way to automate feeding via smart sensors. (Photo: eFishery)

eFishery seeks to develop data-drive device offering cost-efficient solution to farmers

INDONESIA
Thursday, November 15, 2018, 01:40 (GMT + 9)

Indonesian aquaculture startup eFishery has been granted USD 4 million by global investors such as Aqua-spark , Wavemaker and 500 Startups,to further develop its data-driven device so that it becomes a platform that connects the entire ecosystem in fish and shrimp farming.

From the startup it was highlighted that the funds will be used to expand nationally, increasing its presence in farming areas, building its data platform, and boosting recruitment efforts. It currently has a headcount of 67 people, with most people in field sales and operations.

Efficient Feed, Bigger Profit : 80% of fish farming cost come from feeding. eFishery autofeeding method helps to optimize that cost, resulting in better feed performance, water quality, and fish growth. (Photo: eFishery) ►

The startup’s CEO and founder Gibran Huzaifah points out that overfeeding is an issue that directly affects the freshwater fish and shrimp farming industry, with fish feed representing around 70 per cent of farming overheads.

Launched in 2013, the Bandung-based startup provides a device that enables automated feeding of stock in fish farms, which farmers can monitor and schedule via a smartphone app.

The device also collects data on farm production patterns and fish behaviour, which eFishery wants to use to create additional solutions for the aquaculture industry.

► Two sizes of feeding equipment and data collection available today. (Photo: eFishery)

As reported by KrASIA, Asia is in a unique position to capture this potential, as it is the world’s largest supplier of farmed shrimp garnering 89 per cent of the aquaculture products industry.

According to a chart provided by the Food and Agriculture Organisation of the United Nations, the total aquaculture production for Indonesia has been increasing every year, making Indonesia the world’s third major fish producing country after China and India.

However, Huzaifah told KrASIA in an email that the key challenges the firm faces lie in acquiring customers who are mostly traditional fish or shrimp farmers. To combat this, the team would often go the ‘grassroots’ route by being on the ground, building relationships and educating their clients on their technology.

The eFishery team installed in a closed area to aquatic farms to introduce the system to fish farmers (Photo: eFishery)

It generates revenue with a one-time purchasing fee, as well as a monthly subscription model for usage of its hardware. He added that the company is “currently running some pilots for new revenue models to generate revenue” from its data platform.

While Indonesia might be a valuable market on its own, eFishery is not letting up on markets elsewhere. He said that the team is currently working on a pilot programme in Vietnam, Bangladesh, and Thailand.

Example of an aquaculture farm with the eFishery system operating. (Photo: eFishery)

“Our goal is to create more impact in the farmer level regionally by bringing our technology in the market. In doing so, we will be having sole local partner in respective countries to help the scaling process faster,” he concluded.
 
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