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eFishery

AgritechIndonesia
New to Unitard
💀 Dead / Bankrupt
Peak $1.4 BillionToday
~-100%
from peak
  1. 🦄
    Became a unicorn
    2022
  2. 📈
    Peak valuation
    $1.4 Billion ’23
  3. 💔
    Became a Unitard
    Dec 2024
  4. 💸
    Last valuation
    Wiped out
🔥 Raised & burned
$373M
Total raised
$85.4K/day
Burned · 12.0y alive
Funding: Crunchbase roster
Current status
Fraud collapse; founders removed (Dec 2024)

The rise & fall

8 moments · 2013–2026

The key moments, with employee sentiment along the way.

2013
Founded in Indonesia
Gibran Huzaifah, a former fish farmer, starts selling automated feeders to fish and shrimp ponds.
TechCrunch
2022
Joins the unicorn club
Fresh funding crowns eFishery as aquaculture tech's breakout startup.
TechCrunch
2023
The peak: $1.4B on marquee money$1.4B
SoftBank, Temasek and Sequoia India back the round that values the fish-feeder network at $1.4B.
Bloomberg
From the inside · Glassdoor reviews, 2022–24
The inside view curdled before the headlines: by mid-2024 Glassdoor reviews were already listing rampant fraud among staff complaints, stacked on years of gripes about frequent reorganizations and targets rewritten quarter to quarter — even as reviewers praised a work-from-anywhere culture they would soon lose.
Dec 2024
Fraud collapse — joins the Unitard Club 💔
A board investigation ends with the founders removed in December 2024, and investors staring at near-total losses.
Bloomberg
2025
The forensic verdict: mostly made up
FTI's review finds over 75% of reported figures were fabricated — real revenue a fraction of the $752M claimed.
FTI forensic report
2025
Mass layoffs wind it down
Most of the staff is cut as the business is dismantled.
Bloomberg
Apr 2026
Prison for the founder
Indonesian courts convict the founder, and a prison sentence follows.
Bloomberg
$1.4Bof peak value erased · 12 years

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

eFishery sold automated fish and shrimp feeders to Indonesian farmers, reaching a $1.4B valuation in a 2023 round backed by SoftBank, Temasek and Sequoia India. A forensic review found over 75% of reported figures were fabricated, with real revenue a fraction of the $752M claimed; founders were removed in December 2024 and investors faced near-total losses.

Source: Bloomberg/FTI forensic report

Founders

  • Gibran Huzaifah
    Co-founder & CEO
    LinkedIn ↗
  • Chrisna Aditya
    co-founder & chief product officer
    No public profile matched
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