Indonesia-based feed technology firm eFishery has closed a $108 million (€100 million) funding round, taking the startup to over $1 billion in valuation.
The lead investor of the company's series D round is 42X fund, a joint fund between Abu Dhabi tech company G42 and sovereign wealth fund Abu Dhabi Growth Fund, according to Singapore-based newspaper The Business Times and technology news websiteTech in Asia, which cited regulatory filings from data platform VentureCap Insights.
Existing investors SoftBank and Northstar also participated in the round, according to the two media outlets.
The valuation for eFishery reached $1.3 billion (€1.2 billion) after the raise, according to The Business Times and Tech in Asia.
Last year, the company raised $90 million (€79.2 million), led by Temasek, SoftBank Vision Fund 2, and Sequoia Capital India. Existing investors, including the Northstar Group, Go-Ventures and Aqua-Spark, also invested in this round. Aqua-Spark has been investing in eFishery for several years.
eFishery, which launched in 2013, has developed online platforms and mobile applications allowing small-scale fish farmers to better control feed efficiency and purchase equipment and feed more competitively.
Since launching in 2013, the Bandung, Indonesia-based company has deployed thousands of "smart" feeding systems.
