- Indonesian startup eFishery secured $30M from HSBC for AI-powered fish feeders.
- The eFeeder boosts farm efficiency by 30% and yield by 25%.
- HSBC will ensure eFishery embraces ESG principles in aquaculture operations.
Indonesian aquaculture tech startup eFishery has secured a whopping $30 million green and social loan from HSBC Indonesia.
This financial boost will propel the expansion of eFishery’s innovative eFeeder fleet, leasing these AI-powered feeding devices to small-scale fish farmers within its network.
Swimming in smart feeder funds
The eFeeder is no ordinary fish feeder. This cutting-edge device, managed via mobile phones, schedules feeding times, provides expert advice, and tracks vital feeding data.
Powered by artificial intelligence of things (AIoT) technology, the eFeeder boosts efficiency and yield of conventional fish farming by a staggering 30% and 25%, respectively. Small-scale farmers can now produce higher-grade fish, reaching broader markets and potentially improving their livelihoods.
HSBC Indonesia has taken on the role of eFishery’s sustainable finance coordinator, ensuring the company fully embraces ESG (Environmental, Social, and Governance) principles throughout its operations.
This strategic partnership underscores the importance of aquaculture to Indonesia’s economy, contributing approximately 2.6% to the nation’s GDP in 2022.
Reeling in AI talent: the DycodeX catch
In March 2023, eFishery made waves by acquihiring DycodeX, an Indonesian startup specializing in AI-powered IoT technology.
This strategic move reeled in DycodeX’s talented team, bolstering eFishery’s AIoT and cultivation intelligence capabilities.
With this substantial investment and strategic partnerships, eFishery wants to revolutionize the aquaculture industry, empowering small-scale farmers and promoting sustainable practices through cutting-edge AI technology.
The future of fish farming has never looked so smart.
To read the original article: https://www.techinasia.com/efishery-30m-loan-hsbc-expand-reach-aipowered-feeding-tool
