Profitable ponds
- Just one year in, 500-backed aquaculture company eFishery’s India operations have turned EBITDA positive with revenue of over US$5M!
- “In India, we didn’t start from scratch. We brought a decade’s worth of learning from Indonesia. By recruiting a trusted local team and implementing the technology from Indonesia, our growth in India has been incremental,” shared Co-founder & CEO Gibran Huzaifah.
- The team’s calculated entry into India also contributed to their success — there are few direct competitors in the freshwater fish farming sector and by focusing operations in Andhra Pradesh, which is the biggest contributor to India’s aquaculture sector, accounting for 40.9% of the total national aquaculture production in 2022-23.
- To date, the team has partnered with more than 100 ponds and plans to double this figure in the coming year.
- Moving forward, eFishery aims to strengthen their value in more Asian markets, including China, South Korea, Japan and the Middle East, starting with tilapia and shrimp exports. They are already shipping to the US market and are currently preparing for certification to meet higher standards required for the European export market.
- For the next phase, the company aims to increase the value-add of fish products among consumers by developing frozen, filet, ready-to-cook, and even ready-to-eat products, which can offer higher selling prices.
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