Daily Markup

Daily Markup #1003: eFishery reels in US$30M green and social loan from HSBC to expand fleet of AIoT-powered eFeeders for small-scale fish farmers

June 6, 2024 · 1 min read
Photo credit: Infobanknews

More than just a loan

  • More fish farmers across Indonesia will get access to eFishery’s AIoT-powered (artificial intelligence of things) feeders, thanks to a US$30M green and social loan from HSBC Indonesia to the company.
  • The 500-backed team will be expanding their eFeeder fleet, which helps farmers schedule feeding time, get feeding advice, and track feeding data, all via their mobile phones.
  • The eFeeder can help boost the efficiency and yield of conventional fish farming by around 30% and 25% respectively. These enhancements could let small-scale farmers produce better-grade fish and reach wider markets, potentially improving the farmers’ livelihood.
  • HSBC Indonesia was also named eFishery’s sustainable finance coordinator. In this role, the bank will help eFishery fully apply ESG principles in its operations.
  • Congratulations to the eFishery team!
  • Read the full story on Tech in Asia.
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