logoAiPathly

eFishery

e

Overview

eFishery is an innovative aquaculture technology startup founded in 2013, headquartered in Indonesia. Recognized as the first Aquaculture Technology startup in Asia, eFishery has revolutionized the industry with its data-driven solutions.

Mission and Objectives

eFishery's core mission is to transform the aquaculture industry by providing cutting-edge, data-driven solutions. The company aims to empower fish and shrimp farmers with smart feeding technology and data analytics, helping them increase efficiency, reduce waste, and boost profits. This aligns with their broader goal of combating world hunger by harnessing the potential of aquaculture.

Technology and Solutions

eFishery has developed several key technologies:

  1. IoT-based Smart Feeding Machine: Uses sensors to determine fish hunger and dispense optimal feed amounts, reducing feeding costs which typically account for 60-90% of total production costs.
  2. Cloud-Based Dashboard and Data Platform: Allows farmers to manage feeding in real-time via smartphones and control the system remotely. The collected data is aggregated, stored, and analyzed in the cloud.
  3. End-to-End Platform: Offers access to feed, financing, and market opportunities for fish and shrimp farmers, creating a comprehensive aquaculture ecosystem.

Impact

eFishery has made significant strides in the aquaculture industry:

  • User Base: Worked with over 23,000 fish and shrimp ponds across Indonesia, with more than 13,000 farmers as paid users.
  • Profit Increase: Farmers using eFishery's solutions have seen an average profit increase of over 20%.
  • Market Position: Currently the largest feed distributor and fish supplier in Indonesia, despite not operating any ponds directly.

Core Values

eFishery is guided by several core values:

  • Sustainability: Promoting sustainable aquaculture practices
  • Innovation: Encouraging creativity and new solutions
  • Collaboration: Fostering a diverse and collaborative environment
  • Customer Focus: Commitment to exceptional service
  • Continuous Improvement: Constantly enhancing products and services

Recent Developments

eFishery has recently raised $415 million in funding, although it has faced challenges, including the suspension of its co-founders amid a financial investigation. The company has launched a sustainability and impact report, highlighting its commitment to responsible aquaculture practices. Additionally, eFishery has partnered with other companies to enhance financial inclusion and literacy among fish farmers.

Leadership Team

eFishery's leadership structure has undergone significant changes due to an ongoing investigation into alleged embezzlement. Here's an overview of the previous and current leadership:

Previous Leadership

  • Gibran Huzaifah: Co-founder and former CEO, who led eFishery to achieve unicorn status. Currently suspended due to the investigation.
  • Chrisna Aditya: Co-founder and former Chief Product Officer, who has also stepped down due to the investigation.

Current Interim Leadership

  • Adhy Wibisono: Appointed as interim CEO. Previously served as Chief Financial Officer (CFO) at eFishery and held leadership positions at NWP Property and GoPay.
  • Albertus Sasmitra: Appointed as interim CFO. He is a director at Northstar Group, one of eFishery's key investors.

Other Key Figures

  • Muhammad Ihsan Akhirulsyah: Listed as one of the founders of eFishery, though his current role is not specified in recent updates.
  • Gavin Lee: Serves on the board of directors at eFishery. He leads the investment team at Wavemaker Partners and has been involved in several investments in Southeast Asia, including eFishery. The ongoing investigation and leadership changes highlight the challenges faced by rapidly growing startups and underscore the importance of maintaining strong corporate governance practices.

History

eFishery's journey from a small startup to a globally recognized unicorn is a testament to innovation, perseverance, and understanding customer needs in the aquaculture industry.

Founding and Early Days

Founded in 2013 by Gibran Huzaifah, then a college student at Institut Teknologi Bandung, eFishery was born from Huzaifah's experience breeding fish to support his studies. A lecture highlighting the increasing demand for fish and aquaculture's potential in the food sector sparked the idea for eFishery.

Initial Product and Challenges

In 2014, eFishery launched its first product: an IoT device for automatic fish feeding. Initial adoption was slow, taking 97 days to acquire the first customer and nine months for the first 10. Farmers were skeptical of digital devices, and investors hesitated to back the aquaculture sector.

Growth and Innovation

Despite early challenges, eFishery expanded its offerings to include:

  • An online platform for remote fish farm management
  • eFisheryFeed: A feed marketplace
  • Services for financing feed purchases and selling harvested fish These solutions significantly reduced fish farming costs and improved water pollution issues. By 2018, eFishery turned a profit, and by 2022, it reached an annual revenue of approximately $263 million.

Funding and Valuation

In 2023, eFishery raised $200 million in a Series D funding round, led by the 42X Fund and other investors. This funding brought eFishery's valuation to over $1 billion, making it the first unicorn startup in the aquaculture industry and Southeast Asia's first agritech unicorn.

Impact and Expansion

eFishery now works with over 70,000 small-scale fish and shrimp farmers across 280 districts in Indonesia. The company has expanded its services to include financing, feed distribution, and direct sales of fish and shrimp to end buyers. eFishery has also started pilot projects in Bangladesh, Thailand, Vietnam, and India, with plans for further international expansion and a potential U.S. public listing.

Vision and Mission

Gibran Huzaifah's vision for eFishery extends beyond revolutionizing the aquaculture industry through technology. The company aims to address poverty and inequality by providing affordable solutions to farmers. eFishery emphasizes a 'win-win' approach, focusing on partnerships with feed producers and finance companies to ensure farmers' independence and improved livelihoods.

Products & Solutions

eFishery, an Indonesia-based aquaculture technology company, offers innovative solutions to enhance efficiency, sustainability, and profitability in fish and shrimp farming:

  1. Smart Feeding Technology (eFeeder): IoT-driven automated feeding device using motion sensors for fish and acoustics for shrimp. Optimizes feeding times and amounts, reducing waste and improving feed conversion ratios.
  2. Data-Driven Insights: eFeeder generates farm-level productivity data accessible via mobile, including feeding schedules, recommendations, and records.
  3. Feed Marketplace (eFisheryFeed): Bulk pre-ordering of feed from manufacturers, offering competitive prices to farmers (currently 5% below market rates, aiming for 10%).
  4. Market Access and Financing: Connects farmers to local and global markets for better pricing. Offers financing for up to 80% of production costs, taking a commission from sales.
  5. Sustainable Practices: Promotes eco-friendly aquaculture by optimizing inputs, reducing contamination, and improving water quality.
  6. Branded Shrimp Product and Export Platform: Launched branded shrimp and export infrastructure, including to the US market.
  7. Additional Services: Plans to expand into early disease detection, treatment options, and access to additional inputs. eFishery's comprehensive ecosystem approach aims to revolutionize aquaculture by addressing key challenges and opportunities throughout the value chain.

Core Technology

eFishery's innovative solutions leverage advanced technologies to optimize fish and shrimp farming operations:

  1. Internet of Things (IoT): Utilizes sensors and controllers to collect real-time data on water quality, feeding patterns, and fish behavior. Often solar-powered for farms without electricity.
  2. Artificial Intelligence (AI): Employs algorithms to predict fish growth rates, optimize feed formulations, and automate feeding schedules, improving health and reducing costs.
  3. Data Analytics: Analyzes data from IoT devices to provide farmers with insights and recommendations for optimizing feeding schedules and quantities.
  4. Smart Feeding Devices: Equipped with sensors and software to monitor and adjust feeding patterns in real-time, maintaining optimal levels and improving water quality.
  5. Cloud Computing: Enables remote access and management of feeding systems, allowing farmers to quickly respond to changes or issues.
  6. Automated Feeding Systems: Adjust feed rations based on real-time sensor data, minimizing manual effort and risks of over or underfeeding. By integrating these technologies, eFishery offers a comprehensive solution that enhances efficiency, productivity, and sustainability in aquaculture operations. The synergy between IoT, AI, and data analytics creates a powerful platform for precision farming in the aquaculture sector.

Industry Peers

eFishery, a leader in integrated feeding solutions for fish and shrimp farming, faces competition from several key players in the ag-tech industry:

  1. Aquaconnect: Provides digital solutions including feed management systems, water quality monitoring tools, and predictive analytics software.
  2. XpertSea: Offers smart feeding systems and data analytics platforms for optimizing feeding schedules and monitoring growth rates.
  3. Skretting: A global aquafeed producer offering feeds for various species and providing feeding solutions and services.
  4. IntelliAqua: Specializes in aquaculture automation and monitoring systems, including feeding controllers, sensors, and software applications.
  5. Tepbac: Mentioned as a competitor, though specific offerings are not detailed in the sources.
  6. Eruvaka: Known for aquaculture automation and monitoring solutions.
  7. Avanti Feeds: Involved in aquafeed production and related services.
  8. CageEye: Develops IoT technology for monitoring and improving feeding processes in salmon farming. These competitors offer similar products and services aimed at improving efficiency and productivity in aquaculture operations. The competitive landscape highlights the growing importance of technology-driven solutions in modernizing and optimizing fish and shrimp farming practices. As the industry evolves, companies that can offer comprehensive, integrated solutions while adapting to specific regional needs are likely to gain a competitive edge.

More Companies

C

CleanSpark

CleanSpark Inc. (NASDAQ: CLSK), known as "America's Bitcoin Miner®," is a leading player in the bitcoin mining industry. Founded in 1987 by S. Matthew Schultz and Bryan Huber, the company is headquartered in Henderson, Nevada. CleanSpark operates as a pure-play bitcoin mining technology company, managing data centers across the United States. Its facilities are strategically located in Georgia, Mississippi, Tennessee, Wyoming, and New York. The company's focus is on optimizing mining operations using low-cost, high-reliability energy to maximize shareholder returns. Key Performance Highlights (2024): - Mined 7,024 bitcoins annually, with 668 bitcoins in December alone - Achieved 287.9% hashrate growth and 33.3% improvement in fleet efficiency year-over-year - Exceeded year-end guidance with an operating hashrate of 39.1 EH/s and fleet efficiency of 17.6 J/Th Expansion and Future Plans: - Aiming to reach a hashrate of 50 EH/s by the first half of 2025 - Secured $650 million through a zero-coupon convertible bond offering to fund expansion - Focusing on both greenfield infrastructure development and strategic mergers and acquisitions Sustainability and Community Impact: - Emphasizes commitment to sustainable power sources and community engagement - Participates in renewable energy programs when possible - Contributes to local communities through infrastructure improvements, job creation, and tax payments Financial and Operational Highlights (as of December 31, 2024): - Held 9,952 bitcoins - Deployed fleet of 201,808 miners - Contracted power capacity of 853 MW - Sold 12.65 bitcoins in December at an average price of approximately $101,246 per bitcoin CleanSpark's position as a leader in the U.S. bitcoin mining industry is reinforced by its focus on operational excellence, cost efficiency, and sustainable practices.

P

Paycor

Paycor is a comprehensive Human Capital Management (HCM) software solution designed to streamline various aspects of workforce management. Here's an overview of its key features and services: ### Core Functions - **Payroll Processing**: Automates payroll processing, ensures tax compliance, and provides real-time calculations. Features include AutoRun for scheduled payroll, direct deposit, and detailed reports. - **Recruiting and Hiring**: Manages the entire recruiting process, from job postings to interviews and hiring, helping build candidate pipelines and offering a best-in-class interview process. - **Onboarding and Development**: Facilitates employee onboarding, coaching, and talent development with tools for continuous feedback, collaboration notes, and performance evaluations. ### Compliance and Tax Management - **Tax Compliance**: Offers proactive alerts, tax warnings, and a compliance dashboard. Handles tax filing, W-2 and 1099 processing, and provides tax setup guidance based on employee addresses. - **ACA Compliance**: Helps maintain Affordable Care Act (ACA) compliance by generating correct reports and providing filing services to avoid penalties. ### Employee Self-Service and Engagement - **Employee Access**: Allows employees to access pay stubs, W-2s, benefits elections, and financial wellness resources through mobile devices. - **Feedback and Collaboration**: Enables instant feedback, progress tracking, and enhanced collaboration between managers and employees. ### Analytics and Reporting - **Paycor Analytics**: Provides insights into key workforce data such as turnover, headcount, and gender pay equity, aiding in informed decision-making and effective labor cost management. ### Industry-Specific Solutions - **Professional Services**: Offers tailored solutions for professional service firms, including specialized implementation, labor cost tracking, and expense management. ### Additional Features - **Workers' Compensation and Wage Garnishments**: Automates payroll deductions, saving time and reducing errors. - **Customer Support and Community**: Provides personalized support, access to the HR Center of Excellence (HR COE) for best practices, and an exclusive community called the CORner for networking. Paycor integrates various HR and payroll functions into a single, cloud-based platform, enabling businesses to manage their workforce efficiently and effectively.

Z

Zeekr

Zeekr is a premium electric vehicle (EV) brand founded in March 2021 by the Geely Group, a leading global mobility company. Key aspects of Zeekr include: ### Ownership and Brand Philosophy - Owned by Geely Automobile Holdings, operating as Zeekr Intelligent Technology Holding Limited - Name derived from 'Generation Z' and 'geek', reflecting focus on technology and innovation - Aims to be a user-driven tech company centered on experiences and innovation ### Product Line - Zeekr 001: Full-size shooting brake, first model launched in April 2021 - Other models: Zeekr 007 (mid-size sedan), Zeekr 009 (full-size MPV), Zeekr X (subcompact SUV), Zeekr 7X (mid-size SUV), Zeekr Mix (compact MPV) ### Technology and Innovation - Vehicles built on the Sustainable Experience Architecture (SEA) platform - Features include 800V high voltage charging and CATL Qilin long-range batteries - Collaborations with Waymo for autonomous ride-hailing vehicles and Mobileye for L4 autonomous capabilities ### Manufacturing and Global Presence - Manufacturing capacity of up to 300,000 vehicles per year in China - R&D facilities in Ningbo, Hangzhou, and Shanghai - Global design center in Gothenburg, Sweden, and European HQ in Amsterdam - Expanded sales to over 330 cities in China and launched in Europe in 2023 ### Financial Growth - Raised $500 million in 2021 and $750 million in 2023, valuing the company at $13 billion - Filed for IPO on NYSE in May 2024, raising approximately $441 million Zeekr positions itself as a premium EV brand focusing on technology, innovation, and user-centric design, aiming to compete globally in the electric vehicle market.

A

Automattic

Automattic is a globally distributed company that has significantly impacted the web publishing and commerce landscape since its founding in 2005. Here are key aspects of the company: ### Founding and Headquarters Founded by Matt Mullenweg, co-founder of WordPress, Automattic is headquartered in San Francisco, California, USA. ### Products and Services Automattic offers a wide range of popular web services and tools, including: - WordPress.com - WooCommerce - Jetpack - WordPress VIP - Simplenote - Longreads - Tumblr - Day One - Pocket Casts - Newspack - Beeper ### Global Presence and Workforce As a distributed company, Automattic employs approximately 2,000 people across 96 countries, speaking over 120 different languages. ### Mission and Values Automattic is committed to democratizing publishing and commerce, aiming to enable anyone to share their story or sell their product regardless of background or location. The company strongly supports Open Source, with most of its work available under the GPL (General Public License). ### Culture and Work Environment Operating as a remote-only, asynchronous organization, Automattic emphasizes clear communication, respect for boundaries, and inclusivity. The company supports equity measures for employees with disabilities and promotes a culture that respects diverse backgrounds and experiences. ### Contribution to Open Source Automattic dedicates 5% of its company time to the WordPress core project, an initiative known as "Five for the Future," encouraging businesses and individuals to contribute to WordPress development. ### Recognition Automattic is recognized as a Most Loved Company and is committed to being Disability Confident. In summary, Automattic is a forward-thinking company that values diversity, inclusion, and the democratization of web publishing and commerce while significantly contributing to the Open Source community.