Indonesian agritech unicorn eFishery under investigation for financial misconduct
02/07/25, 3:10 AM
Location
singaporeType
partnership
eFishery, backed by investors such as SoftBank Group and Temasek Holdings, is facing scrutiny as an ongoing investigation alleges potential financial malpractices. The company's board of directors has appointed FTI Consulting as acting management and is conducting a thorough review of its financial and operational position.
Company Info
Location
singapore
Additional Info
The company then diversified into eFishery Fresh (fishery grocery), eFisheryFeed (fish and shrimp feed), and eFishery Fund (providing loans to aquaculture farmers).The company claims that to have deployed thousands of smart feeders, serving over 30,000 farmers across 24 provinces in Indonesia to date. However, according to DealStreetAsia – DATA VANTAGE, the company had raised $19.81 million in its Series B round. eFishery started operations in 2013 as an IoT feeder for fish and shrimp farming.