Aditya Hadi Pratama · · 1 min readIndonesia 🐟 startup nets seed money in Insignia-led round (Updated)
Update (March 23, 2022 12:30 p.m. SGT): This article was updated after FishLog clarified the amount of funding it received and its current valuation.
FishLog, an Indonesia-based fishery startup, has raised a seven-digit US-dollar figure in a seed funding round led by Insignia Ventures Partners and joined by Arise Ventures, KK Fund, Ango Ventures, and Indian startup Captain Fresh.
The company told Tech in Asia that its current valuation has exceeded US$10 million.
(From left) FishLog founders Reza Fahlepi, Bayu Anggara, and Abdul Halim / Photo credit: FishLog
Founded in 2020, FishLog provides solutions for the fisheries supply chain, including stakeholders like fisherfolk, processing partners, and cold-chain logistics players. Thus, companies that want to buy fisheries products can get real-time insights on the availability of fish by accessing FishLog’s B2B marketplace.
The firm said its revenue has grown 20x year on year.
FishLog was established by Bayu Anggara, Reza Fahlepi, and Abdul Halim, who ran several fisheries companies before building the startup.
See also: These are the most active investors in Indonesia’s startups
The company will use the fresh funds for product development, scaling, and hiring purposes.
Other investors in this round include:
- Kopi Kenangan CEO Edward Tirtanata
- AwanTunai co-founder Windy Natriavi
- Shipper CMO Jessica Hendrawidjaja
Editing by Samreen Ahmad and Arpit Nayak
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