Heaptalk, Jakarta — Indonesia’s aquatech eFishery pockets a USD30 million green and social loan from HSBC Indonesia. The fresh capital will support eFishery to expands the utilization of its eFeeder, eFishery’s automatic feeding technology which are rented to small fish farmers.
“This funding enables us to enlarge our eFeeder (platform) penetration and empower small-scale fish farmers and shrimp farmer with the technology and resources they need to be more productive and sustainable. We believe our cooperation with HSBC will help us to achieve our growth ambition and build Indonesian aquaculture sector,” stated Founder and CEO of eFishery as cited in InvestorID (05/31).
In this collaboration, HSBS Indonesia will act as Sustainable Finance Coordinator for eFishery to support the startup’s implementation in ESG principles.
Supporting eFishery’s business, Managing Director Head of Wholesale Banking of HSBC Indonesia Riko Tasmaya stated that HSBC is proud to support eFishery in expanding their business for reaching more small-scale fish farmers across Indonesia.
This action also is part of HSBC’s intention to support a platform-based economy sector while supporting the national aquaculture to implement sustainable supply chain.
Perceiving the startup’s journey, eFishery managed to revolutionized traditional farming method by providing advanced technology in aquaculture. The unicorn startup offers a comprehensive platform that provides access to technology, competitive price of weft, financing, and fish market to fish farmers.
Moreover, eFeeder platform helps fish farmers to set feeding schedules, receiving feeding recommendations, and record feeding data using their mobile phones. The platform also supports fish farmers to adopt sustainable fish farming methods that improve water quality by reducing water contamination and waste from inefficient feeding cycles, optimizing inputs, and improving feed distribution. The utilization of this technology is claimed to improve production capacity of 25% and feed efficiency of 30%.
