Reaching a unicorn level with the latest valuation of over US$1.3 billion, eFishery has proved its milestone by appearing on the NYSE, Wall Street.
Heaptalk, Jakarta — Indonesia’s fishery startup, PT Multidaya Teknologi Nusantara (eFishery), appeared on the New York Stock Exchange (NYSE), Wall Street, United States. This information was conveyed by the Chief Executive Officer of eFishery, Gibran Huzaifah, on his personal Twitter account.
According to his statement on social media, Gibran stated, “It is not every day you see Indonesian fish or shrimp farmers’ faces on the trading floor of the US stock market. And even better, we get this coverage for free. Thank you for the kind words, NYSE! Maybe you will congratulate us next time with a ticker code of $FISH?”
The newest accomplishment follows the eFishery’s previous milestone: securing US$108 million (around Rp108 trillion) in a Series D funding round led by 642 Global Expansion Fund, generally known as a 42XFund, based in the United Arab Emirates (UAE), with participation from Softbank Vision Fund ll and Northstar Group.
The 42XFund reportedly has poured the fund at US$100 million into this startup in this funding round. Meanwhile, Softbank Vision Fund ll claimed to have injected capital at US$5 million, and Northstar Group has invested the fund worth US$3 million into the eFishery startup.
This funding has managed this startup to hit a unicorn level as the startup collected the third fund party at over US$220 million, with the latest valuation of over US$1.3 billion, making eFishery reach the first unicorn level for the aquatech industry.
To date, eFishery is one of the most prominent fisheries technology startups worldwide. To strengthen its existence as a fisheries startup, Gibran emphasized that his party would continue to expand globally. According to the research, this startup has contributed to Indonesia’s GDP in the Aquaculture sector at US$228 million, approximately 1.55% of the sector’s GDP in total. On the other hand, this research also shows that eFishery has had a significant impact on fish farmers and shrimp farmers, with the highest growth for medium-scale cultivators (88.7%), large-scale cultivators (21.5%), and small-scale cultivators (1.2%).
