Indonesia
Indonesia-based aquaculture firm, EFishery, has made a strategic move in its AI expansion plans by acquiring DycodeX, a local AI-powered IoT startup. While the terms of the deal remain undisclosed, this acquisition will pave the way for EFishery to bolster its AI initiatives, including the launch of an upcoming brand, eFishery.ai.
The integration of the DycodeX team into EFishery’s artificial intelligence of things (AIoT) and cultivation intelligence division marks a significant step for the unicorn’s product expansion strategy. Andri Yadi, co-founder and CEO of DycodeX, will assume the role of Vice President, leading the newly formed team. With this addition, EFishery aims to roll out 10 new products over the next two to three years, spanning IoT solutions, generative AI products, and aquaculture intelligence platforms.
EFishery’s current flagship product, eFeeder, leverages AI to automate feeding processes for fish and shrimp cultivation, complemented by a feed marketplace and a B2B trading platform. According to EFishery CEO Gibran Huzaifah, the expertise brought by Andri Yadi and his team will accelerate the implementation of AI and IoT within the company’s ecosystem, potentially reducing the product development cycle by 3x to 4x.
The DycodeX acquihire aligns with EFishery’s expansion strategy, following its entry into the Indian market last year and a successful Series D funding round, raising $200 million and reaching a valuation of US$1.4 billion. As of January 2024, EFishery boasts 200,000 fish farmers among its clientele, signaling its growing influence in the aquaculture industry.
