Southeast Asia’s leading aquaculture startup, eFishery, has announced the completion of a commercial pilot in India, marking a significant milestone in its plans for global expansion. It disrupts traditional fish farming methods and provides cutting edge solutions in the aquaculture ecosystem by offering an end-to-end platform that provides access to feed, financing, and market to fish and shrimp farmers. The Indonesia-headquartered firm kicked off the pilot project in March and has now successfully acquired over 1,000 acres of ponds under contract, and distributed more than 3,000 tonnes of feed in Andhra Pradesh, an Indian state contributing to 35 percent of the country’s total aquaculture production. The firm now aims to expand its footprint to five more Indian states by the end of 2024.
The company’s global expansion strategy also focuses on tapping into diverse markets, offering a comprehensive ecosystem to farmers, and creating a “digital co-operative” 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 the overall growth strategy, which also includes expanding the company footprint in Indonesia and growing in export markets: “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,” he said in a press release.
Indian aquaculture potential : India has a population of 1.4 billion and an aquaculture industry, valued at over $15 billion, which has grown at an impressive >8 percent compound annual growth rate (CAGR) for the last three decades. Despite its vast potential, small and medium farmers in India grapple with challenges . Addressing these challenges, eFishery steps in to empower farmers to make informed, data-driven decisions promptly. The focus is on refining farm operations, optimising cultivation practices, and enhancing overall yield.
Focus on farmers’ profits : Neil Wendover, eFishery’s international expansion lead, highlighted the company’s commitment to enhancing farmers’ profitability in every market it enters. “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,” he added.