Indonesia’s eFishery bags (up to) $1.2 million investment from Get in The Ring

Today is a huge day for Indonesia’s fishtech startup eFishery. The startup has just won a competition called Get in The Ring, which promises grand winners investment of up to €1 million – that’s US$1.2 million.

eFishery offers a smart fish feeding machine for commercial aquaculture. The feeder can sense the fish’s appetite through motion sensors, and if the fish are feeling agitated and hungry, the machine will feed it automatically. The startup has also created the software for it, allowing fish farmers to see these feeding activities in real-time on their phones, and control the system if needed.

According to Food and Agriculture Organization, “the total farmgate value of food fish production from aquaculture is estimated at US$119.4 billion for 2010.” And because Asia accounts for 87 percent of total production volume for aquaculture products, there’s a lot of market to grab for Indonesia-based eFishery.

eFishery’s automated smart feeding system for commercial aqualife.

This is the first time that an Indonesian startup has won this competition, which has been running since 2009. Get in The Ring is a startup competition based in Rotterdam, Netherlands where it claims to have received over 2,000 submissions for this year’s competition.

See: This startup is building smartphone-powered ‘fishtech’ for Indonesia’s commercial aqualife