The company has also appointed Martin Wong from FTI Consulting as its new CEO, replacing Adhy Wibisono, who stepped down from ...
Once a start-up darling, the agritech firm, hit by fraud allegations, is cutting over 1,000 jobs. Read more at ...
The alleged financial fraud involving founders and the former top management of Indonesia’s aquaculture firm eFishery has sparked scrutiny over the company’s investors, includ ...
EFishery Pte is eliminating more than 1,000 jobs, or about 90% of the workforce, as the Indonesian agritech company suspected ...
An adviser probing the alleged accounting fraud at Indonesian agritech company eFishery recommended that investors make a ...
In a few weeks, shareholders should vote on whether to wind down, restructure, or sell the company. Read more at straitstimes ...
Indonesian agritech start-up eFishery raised $200 million in Series D funding, pushing the company into unicorn status with a ...
The outcome was an extravagant valuation that had no connection to fundamentals. Even with its fabricated revenue, eFishery was trading at an EV/Sales ratio of two times. Agri-processors such as Japfa ...
"This could have a chilling effect for, conservatively, 12 months, but probably longer," Justin Hall of Golden Gate Ventures ...
Catch up on Indonesia’s latest startup news: eFishery’s internal investigation, rising deeptech investments, healthtech ...
In the eFishery case, reported sales of 400,000 fish feeders versus the verified 24,000 should have been an instant red flag, ...
EFishery, which deploys feeders to fish and shrimp farmers in Indonesia, was a darling of the nation’s startup scene and scored a valuation of $1.4 billion when G42, an AI firm controlled by ...