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Hello there,
The perennial question goes – is it better to be an influential figure in a small group or be ordinary in a larger, more powerful group?
Last week, football’s best-ever player Lionel Messi chose the former, announcing that he would join Inter Miami, a Major League Soccer team at the bottom of the table.
Moving to the US was a bold choice, especially considering that he had been reportedly offered US$1.3 billion by Saudi Arabia-based Al-Hilal, or to return to Barcelona in an iconic de-Nou-ement to his career.
But instead, he chose to be the Lebron James of soccer and move to a league where even in the throes of retirement, he can be sure to dominate – effectively becoming a big fish in a small pond.
Speaking of this, eFishery – which had previously raised the largest funding round globally for an aquaculture startup – recently turned unicorn following its US$108 million series D catch. Much like the money magnet Messi, who ranks third among the highest-paid football players in the world, our data shows that this big fish in the small Indonesian aquatech pond has raised more than the rest of its peers combined.
However, just because you have to compete with the champs doesn’t mean you have to stop trying. Indonesia’s smaller aquatech fish remain headstrong – in this week’s Big Story, I look at the country’s emerging aquaculture tech sector and the newer players looking to rival eFishery.
Local startups, including new ones such as Crustea, are looking to support the industry by introducing marketplaces and innovative tech as well as providing farmers with access to knowledge and financing. And investors seem to be interested.
In our second Big Story, my colleague Shreya profiles Singapore-based customer data platform Meiro. The bootstrapped startup managed to turn profitable within two years and posted a 60% revenue growth in 2022. It is now focused on scaling by looking for investors who can help it grow faster.
Meanwhile, I look at the acceleration of AI-generated content, deepfakes, and reality-bending ahead of the 2024 elections in the US, Indonesia, and India in AI Odyssey.
— Shadine
THE BIG STORIES
1️⃣Indonesia’s aquaculture industry rises to the helm amid farmer decline
Image credit: Made by Tech in Asia using AI
AI ODYSSEY
NEWS YOU SHOULD KNOW
FYI
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