“In theory, the proceeds from the harvest or cash collected from farmers should be repaid back to the lenders,” the presentation said. “In practice, however, eFishery faced significant ...

Back in 2023, Indonesian agritech start-up eFishery raised $200 million in Series D funding, pushing the company into unicorn status with a valuation of around $1.4 billion. With big backers like ...

Indonesian aqua-tech start-up eFishery could be in far worse shape than investors had anticipated. Reports say that it is likely to recover less than 10 cents for every dollar it has invested.

“In theory, the proceeds from the harvest or cash collected from farmers should be repaid back to the lenders,” the presentation said. “In practice, however, eFishery faced significant challenges when ...

SoftBank, Temasek Among eFishery Investors Facing Near Wipeout Startup’s backers likely to recover under 10% of investments Indonesian firm allegedly misrepresented financials for years ...

The fallen startup, whose financial backers include SoftBank Group Corp. and Singapore’s Temasek Holdings Pte., had been a star of Indonesia’s startup scene. eFishery was valued at $1.4 ...

It also helped farmers obtain financing from peer-to-peer lenders and financial institutions to pay for their feed and operational costs. The investigators also found that there was a high default ...

Investigators hired by the board of eFishery have determined the Indonesian startup is in far worse shape than they previously thought, and that investors are likely to get back less than 10 cents ...