Wednesday, April 24, 2024
HomeStartup NewseFishery acquires DycodeX an Indonesian IoT firm driven by AI

eFishery acquires DycodeX an Indonesian IoT firm driven by AI

An Indonesian aquaculture company called EFishery has acquired a local AI-driven Internet of Things business called DycodeX. The secret terms of the purchase will allow it to forward its AI ambitions, which include launching the eFishery.ai brand.

The unicorn’s product division’s artificial intelligence of things (AIoT) and cultivation intelligence team will welcome the DycodeX team. Vice president and co-founder of DycodeX, Andri Yadi, will serve as team leader.

Read also – Israeli firm BigID secures $60 million in funding

With the new team, it intends to introduce ten new products over the course of a two- to three-year roadmap. They will manifest as generative AI products, IoT platforms, and other intelligence solutions for aquaculture. At the moment, it offers only one AI-powered device, dubbed eFeeder, which lets its customers turn on automatic feeding for shrimp and fish farming. A B2B fish trade platform and a feed marketplace are examples of further items.

“Andri Yadi and his team can strengthen and accelerate the implementation of AI and IoT in its ecosystem,” eFishery CEO Gibran Huzaifah said in a statement. The company went on to say that it anticipates a 3–4 times faster product development cycle with Yadi and his team.

Read also – India’s Pocket FM Secures $103M in Series D Funding

The DycodeX acquisition is offered while eFishery is expanding. The business raised $200 million in series D fundraising last year and expanded into India, its first international market, increasing its valuation to US$1.4 billion. It claimed to have 200,000 fish producers as clients as of January 2024.

About eFishery

eFishery creates breakthroughs for the aquaculture industry. By providing an end-to-end platform that gives fish and shrimp farmers access to feed, funding, and markets, eFishery upends conventional fish farming techniques and offers innovative solutions in the aquaculture ecosystem. The goal is to create an aquaculture ecosystem in Indonesia that benefits farmers, consumers, and other stakeholders by being sustainable and lucrative.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular