FishLog, an Indonesian startup in the fishing industry, successfully concluded its Pre-Series A extension round of funding.
The distribution of FishLog’s traceable fishing goods in the US will receive special attention. FishLog’s unique technologies, the Trace and the Smart Contract, which are driven by blockchain technology, will help this effort.
Read also – India based social media Unicorn ShareChat Secures $49 Million in Funding
It is mentioned that it trace uses a traceable sourcing mechanism to ensure that seafood comes from ethical sources and offers high-quality insurance coverage.
It’s Smart Contract manages funding in the interim, improving transparency and promoting international confidence. The company helps more than 60 local and foreign buyers grow their businesses by connecting them.
One of the biggest marketplaces on the globe is the US. According to U.S. Department of Agriculture figures, in 2023, seafood imports into the country would surpass exports by $20.3 billion.
This can hasten the profitability of the company’s product distribution, which includes shrimp, tuna, blue swimming crab, and many more, as Indonesia imports goods to it’s international business-to-business (B2B) customers.
Read also – Lebanon-based Agritech Garbaliser has Raised $436,000 in Funding
Global development For fisheries stakeholders to unleash, this involves putting the proper alliances and infrastructure in place, according to Abdul Halim, co-founder and chief operating officer of FishLog.
It has been a standout candidate since their Indonesia Impact Fund, according to Ronald Simorangkir, Chief Executive Officer of Mandiri Capital Indonesia. It is a kind of impactful startup that corresponds to their aim to assist the Sustainable Development Goals (SDGs) in Indonesia.
“These initiatives pave the way for shaping a brighter future for fisheries families and the planet,” said Reza Fahlepi, Co-Founder of FishLog.
About FishLog
FishLog are utilizing fair trade practices, streamlined procedures, sustainable distribution, and a shorter supply chain for seafood in Indonesia for all parties involved.
