Heaptalk, Jakarta — Indonesia’s unicorn startup, eFishery, declared it would lay off an undisclosed number of employees. eFishery’s job-cutting measure was based on changes in its business strategy, making organizational restructuring steps that had to be taken.
“We announce an adjustment to the organizational structure that will impact several employees. We made this decision carefully based on the restructuring and transformation of eFishery’s business strategy,” said Muhammad Chairil, Vice President of Public Affairs at eFishery.
As a part of responsibility measure for affected employees, eFishery provides support, including:
- Job search assistance: eFishery will help affected employees discover new career opportunities that match their interests and skills.
- Counseling support: This aqua-tech startup provides counseling and support services to help employees transition.
- Transition facility: This unicorn will support and facilitate the transition process for affected employees as quickly as possible.
“Their hard work, dedication, and contributions have meant plenty for us. The company’s achievements would not have been possible without their support. Thus, we would like to thank all employees affected by this decision.
Prior to this restructuring move, this aqua-tech had completed its commercial trials in the Indian market. Initiated last March 2023, this unicorn has reached over 1,000 hectares of Indian cultivator ponds and channeled over 3,000 metric tons of feed. The Indian branch started operating in Pradesh, one of India’s regions contributing 35% of total aquaculture production through comprehensive market and strategy assessments.
Since its establishment in 2013, eFishery has contributed almost 3% of Indonesia’s fisheries sector’s total GDP. By providing an inclusive digital economy for Indonesia’s fish cultivators, this noted fish and shrimp sales transactions of up to US$509 million and recorded fish and shrimp feed sales transactions worth US$254 million over a decade.
This startup also reached a unicorn level, collecting the third fund party at over US$220 million, with the latest valuation of over US$1.3 billion, making eFIshery the first unicorn in the aqua-tech industry.
