Southeast Asia’s leading aquaculture company, eFishery, announced the completion of its commercial pilot in India, marking a significant milestone in its global expansion journey. The Indonesia-headquartered firm kicked off the pilot project in March of this year, has successfully acquired over 1,000 acres of ponds under contract, and has now distributed more than 3,000 metric tons of feed. This achievement brings the firm closer to expanding its footprint to five new Indian states by the end of 2024.
Moreover, the pilot project also signals a broader expansion beyond Southeast Asia with a
deliberate, one-country-at-a-time approach for sustainability and impact assessment. Beyond
India, eFishery is eyeing opportunities for one or two countries in Asia and Latin America within
a year while continuing to export shrimp products overseas. The company’s global expansion
strategy also focuses on tapping into diverse markets, offering a comprehensive ecosystem to
farmers, and creating a “Digital Co-Op†model that provides access to high-quality inputs, IoT
technologies, production SOPs, and guaranteed market off-take, ultimately empowering farmers
and unlocking their true potential.
eFishery CEO and co-founder Gibran Huzaifah explained that India is a key part of
eFishery’s overall growth strategy, which also includes expanding the company footprint in
Indonesia and growing in export markets, “Beginning with the Indian pilot project, I take pride in
our global impact, unlocking the potential of aquaculture worldwide through Indonesian-made
technology, resulting in a remarkable average two to three-fold increase in farmers’ profit. We
recognize the potential and value of tapping into the Indian aquaculture market, which mirrors
the size and structure of the Indonesian market, both dominated by small and medium farmers.
By supporting them as partners, these key contributors to local and regional food security help
ensure a sustainable and accessible source of protein for global communities.â€
India, with a population of 1.4 billion, sees seafood consumption covering 60% to 70% of its people. The country’s aquaculture industry, valued at over US$15 billion, has grown at animpressive >8% Compound Annual Growth Rate (CAGR) for the last three decades. Despite its vast potential, small and medium farmers in India grapple with challenges such as poor marketlinkage, inconsistent and non-beneficial pricing schemes, delayed payment terms, and a lack of basic farm management information, protocols, technology, and innovation. Addressing these challenges, eFishery steps in to empower farmers to make informed, data-driven decisionspromptly. The focus is on refining farm operations, optimising cultivation practices, andenhancing overall yield.
Neil Wendover, eFishery’s International Expansion Lead, highlighted the company’s
commitment to enhancing farmers’ profitability in every market it enters, “Our business
objectives are centred on solving problems for the farmers and improving profitability through
heightened productivity and efficiency. Rather than dividing the aquaculture pie, we are
essentially doubling the size.
Commencing its operations in Andhra Pradesh, an Indian state contributing to 35% of the country’s total aquaculture production, eFishery has conducted a thorough market and strategy assessment. Wendover continues, “We have grown a dedicated Indian team to 50 employees with strong local leadership in place. This, together with collaborations with government entities and input suppliers, is also instrumental in navigating the unique challenges of the Indian aquaculture sector, which remains a fragmented but vast and exciting market. I am pleased that our strategic efforts have paid off, and we are on track to achieve a 10x growth, aligning with our international expansion business objective.”
“My collaboration with the eFishery has been a game-changer for my small farm. Their innovative solutions and support have improved efficiency and enhanced the overall sustainability of my aquaculture operations. eFishery’s continuous aid ensures a successful harvest, preventing the need for a panic harvest due to financial constraints,†shared Ch. Veera Nageswar Rao is a fish farmer from Kakinada District and an e-fishery partner.
Established in Bandung, West Java, in 2013, eFishery has disrupted the Indonesian aquaculture
industry by offering an Internet of Things-based digital auto feeder. This innovation aims to
enhance accountability, efficiency, and convenience in the fish farming business. Their
data-driven technology utilises sensors to monitor and optimise feeding, fish health, and water
quality while minimising waste.
As the first unicorn startup in the global aquaculture industry, eFishery’s strategic move into
India underscores its commitment to addressing the global hunger problems. “Our presence in
India is a crucial step in our international expansion strategy. With a focus on technology and
data-driven solutions, eFishery is leading the transformation of aquaculture value chains and
contributing to the economic well-being of farmers,†Gibran concluded.
