Indonesian aquaculture company eFishery has made a strategic move by acquiring DycodeX, a local AI-powered IoT startup, to bolster its artificial intelligence ambitions. While the terms of the deal remain undisclosed, this acquisition paves the way for eFishery to launch its upcoming AI brand, eFishery.ai.
Under this arrangement, the DycodeX team will integrate into eFishery’s artificial intelligence of things (AIoT) and cultivation intelligence team, enhancing the unicorn’s product division. Andri Yadi, co-founder and CEO of DycodeX, will assume the role of vice president, leading the newly integrated team.
With the addition of DycodeX’s expertise, eFishery plans to embark on an ambitious two- to three-year roadmap, introducing 10 new products. These innovations will encompass IoT devices and platforms, a generative AI product, and various aquaculture intelligence solutions.
Currently, eFishery’s portfolio includes eFeeder, its flagship AI-powered product facilitating automatic feeding for fish and shrimp cultivation. Additionally, the company offers a feed marketplace and a B2B platform for fish trading.
Gibran Huzaifah, CEO of eFishery, expressed confidence in the synergies brought by the DycodeX team, anticipating a significant acceleration in product development cycles. He highlighted expectations for a threefold to fourfold increase in speed with Yadi and his team on board.
The acquisition aligns with eFishery’s expansion strategy, notably marked by its entry into the Indian market last year. Concurrently, the company secured $200 million in Series D funding, propelling its valuation to an impressive $1.4 billion.
As of January 2024, eFishery boasts a client base of 200,000 fish farmers, signalling its strong foothold in the aquaculture industry. This strategic move underscores eFishery’s commitment to leveraging AI and IoT technologies to drive innovation and growth in the sector.
