Indonesian start-up Jala Tech has secured USD 6 million (EUR 5.34 million) in investments to support the development of its services for the shrimp aquaculture sector.
Jala Tech provides hardware and software to help shrimp farmers control water quality in their ponds. The platform, currently used by more than 6,700 farms in Southeast Asia, provides technical and financial data for farm management, helping farmers improve their productivity and feed-conversion ratios. The start-up also runs a marketplace where farmers can sell their shrimp directly to processing companies, with around 200 metric tons (MT) of shrimp being traded on the marketplace each month.
Jala Tech Co-Founder and CEO Liris Maduningtyas said the new funds will help the company develop initiatives to facilitate the sustainable growth of the shrimp industry, including technological solutions to aid issues of pollution, disease, value-chain inefficiencies, and limitations in product traceability.
Hatch, with operations in Norway, Singapore and Hawaii, and 500 Global, operating in the U.S. and Asia, were the company’s first two major investors. The new funding was contributed by the Althelia Sustainable Ocean Fund, which is advised by Mirova Natural Capital, an affiliate of investment manager Mirova. The U.S.-based Meloy Fund and Japan’s Real Tech Fund also participated in the fundraising, according to a Mirova statement on 24 November. Sustainable Ocean Fund Investment Manager Lisa Hubert said her firm hopes Jala Tech can make a significant difference in the way shrimp farming is practiced in Southeast Asia.
“We are pleased to announce this important investment to contribute to make more sustainable an industry which plays such a significant role in Southeast Asia. Poor practices have been common in this area, and with this investment in Jala, we are backing a business which can make a quantifiable difference to the farmers, the value chain players, and the end consumer,” Hubert said.
Photo courtesy of Mirova
