EFishery’s Indian rival makes a splash

This week’s On the Rise dives into Captain Fresh’s growing appetite for global acquisitions and AI’s use case in aquaculture. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter spotlights emerging startups and the biggest trends in the tech ecosystem. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - The Indian aquatech firm [outpacing eFishery on global seas]( - Why AI plays a big role in aquaculture Hello {NAME} As kids, my brothers and I would hound our parents to get us a dog. They didn’t flat out deny our request, but they told us to start with an aquarium first to prove we were responsible enough to take care of a pet. As years passed, the dream to adopt a dog didn’t materialize. Instead, that small aquarium multiplied into several more. Over time, we learned to breed different varieties of aquarium fish. While some were easy to keep, others needed extra attention - from frequent water recycling to monitoring the acidity and oxygen levels of the water. Aquaculture farmers are doing this on a far larger scale, and it’s quite a task. Fortunately, today’s tech, like IoT and AI, can help remotely monitor vast fish farms. Our Big Story dives into an aquatech company from India called Captain Fresh. It has been making waves globally, having acquired three companies across the US and Europe in the last six months.  --------------------------------------------------------------- [Meet eFishery’s biggest competitor in India]( Captain Fresh has been around for just five years but is expanding globally faster than its Indonesian competitor eFishery, which entered India in late 2023. As part of Captain Fresh's expansion efforts, it has acquired Polish smoked salmon producer Koral, US seafood importer CenSea, and French shrimp distributor Senecrus. It isn’t done with M&As either. Founder and CEO Utham Gowda tells Tech in Asia that more acquisitions are on the way, as they are “core to the company’s expansion strategy.” The B2B seafood distribution firm is also eyeing a listing on an Indian stock exchange.  --------------------------------------------------------------- On the topic of tech being used in fish farming, there has been a [rise in the use of AI in aquaculture](. For example, eFishery [acquihired]( a local AI-powered IoT startup called DycodeX in March. The acquisition helped eFishery expand its AI plans, which include an upcoming offering called eFishery.ai. The DycodeX team will also work to create IoT products and platforms, a generative AI product, and other aquaculture intelligence products. Currently, eFishery has one AI-powered offering called eFeeder, which allows its clients to enable automatic feeding for fish and shrimp cultivation. It also partnered with Microsoft’s Azure OpenAI Service to pilot a [generative AI assistant]( that can provide farmers with real-time data and insights on the health of their produce, as well as answers to any queries on best practices. Beyond monitoring, AI can also predict the health of fish and shrimp and anticipate the yield from each batch of fish farmed. This may lead to cost savings, since fish diseases result in [US$6 billion]( in losses annually, according to the World Bank. In Norway, [nearly 17% of farmed salmon]( died due to infectious diseases in 2023. It was also the cause of [US$1.2 billion in losses]( for shrimp farms in India. Demand for seafood globally is [expected to grow significantly]( over the next few years, even amid looming shortages. One firm that is trying to help is ReelData, which in July released an [AI camera]( that can analyze the behavioral patterns, feeding rates, and health of fish. It not only helps track diseases, but it can also predict when the fish will be ready for harvesting. Even Google has taken the plunge into aquaculture through its [spin-off firm Tidal](. The company develops underwater AI cameras and feeding systems. AI in aquaculture is also being deployed to [automate gender sorting]( in salmon aquaculture, where this is typically a difficult process. As the global aquaculture market is expected to grow to [US$573.7 billion]( by 2035, we can expect the use of AI in the industry to grow significantly in the coming years. – Collin  --------------------------------------------------------------- DEEP READS Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Flash Coffee taps ex-Foodpanda CEO in turnaround bid]( The coffee chain has hired Jakob Angele as its executive chairman and refocused on its Indonesian business. Flash Coffee has taken some tough decisions recently, like exiting several countries and even shutting down stores in Indonesia. But this has resulted in a more than 50% revenue growth and operational profitability on a per store basis. 2️⃣ [The world’s call center capital is gripped by AI fever — and fear]( The Philippines, which has a large number of call centers, has seen many people in the sector lose their jobs due to AI. In the past year, companies have introduced AI “co-pilots,” which are algorithms that work with these employees to learn and do many of their tasks. While an impact on call centers was expected after OpenAI introduced human-like AI voice capabilities this year, the pace at which it is happening is surprising. 3️⃣ [VC is on the ropes in SEA. Here’s how it can bounce back]( While funds in the region have so far raised more than US$14 billion this year - compared to US$14.8 billion for all of 2023 - the VC sector is still struggling to provide returns to investors. In this piece, VCs talk not only about the problems they face in the region, but they also look at how this investor class can adapt to the current economic climate. 4️⃣ [Carro’s next pit stop? Recruitment services]( The used-car unicorn acquired Thai classified ads platform Kaidee in 2023. This will lead the firm into a completely new vertical: recruitment. Kaidee is set to launch OKAI, a new jobs platform based in Thailand. OKAI will be spun off as a separate entity and is in the final stages of securing its own venture funding. This story explores the reason for this move into an unrelated business as the company looks to IPO in the near future. 5️⃣ [Singapore startups seek Malaysia’s greener pastures]( A wave of upcoming founders and tech talent from the island republic considers Malaysia a better destination to live and work. One of the main reasons is the much higher cost of talent in Singapore. But there are other reasons why some Singapore-based founders are choosing to move north. ---------------------------------------------------------------  DEVOPS DECODED: INDUSTRY INSIGHTS & NETWORKING Disrupt, or be disrupted - you need to step up Feeling the pressure to deliver faster, smarter, and more securely? On September 12, DevOps leaders will gather to reveal their secrets for conquering complex pipelines, achieving solid compliance, and harnessing the power of AI/ML and open-source tech. Skip the theory - you'll walk away with real-world strategies and practical advice to optimize your workflow, connect with peers, and gain a competitive edge. Don't just play the game - master it. [Apply for your invite today.]( ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](. [Tech in Asia Conference Jakarta on October 23 - 24]( Get ready to be inspired at the upcoming #TIAConferenceJKT. We are bringing together the region's top minds for two days of in-depth discussions, groundbreaking ideas, and unparalleled networking opportunities. Hear from Edward Tirtanata on the D2C user preferences across SEA, what it takes to build an AI startup from Wiz.AI’s Jennifer Zhang, and Gibran Huzaifah shares how he built SEA’s first agritech unicorn. [Get your tickets at 45% off now!]( [Tech in Asia’s Founders Meetup: Thailand on September 11]( Think you can handle the heat? Join leading VCs from A2D Ventures, WV, and The Radical Fund to get the inside scoop as they identify the hottest verticals where smart money is going (and where you should too!) and engineer tomorrow’s thriving ecosystem. Early bird passes are sold out. [Get your ticket now.]( [DevOps Decoded: Industry Insights & Networking on September 12]( Feeling the pressure to deliver faster, smarter, and more securely? Learn real-world strategies and practical advice to optimize your workflow, conquer complex pipelines, achieve solid compliance, and harness the power of AI/ML and open-source tech. Don't just play the game - master it. [Apply for your invite today.]( [Leadership Collective: Building at Scale on September 26]( Consider this your backstage pass to the expanding intersection of design and AI, where creativity meets algorithms and workflows transform into intelligent, collaborative ecosystems. We're unpacking how AI can help you improve traditional processes, build innovative products, and gain a competitive edge. Seats are extremely limited - [apply now.]( [SYNC 2024 on October 08]( SYNC 2024 is taking on a new dimension. This year, we're diving deep into the world of artificial intelligence - the force that's reshaping industries, driving innovation, and redefining the future of business. AI is already here, but it's only just beginning to reveal its true potential. Find out more about SYNC 2024 today. [Startup Factory at Tech in Asia Conference Jakarta]( Are you a founder looking for inspiration, connections, and the latest tech insights? Look no further than the Startup Factory at #TIAConferenceJKT! This exclusive space, designed for founders like you, will showcase the region's most promising tech companies. Get up close and personal with the innovators shaping the future, discover the trends driving the tech industry, and connect with potential partners and investors. Competition is fierce and limited booth slots are available. [Apply now!](  ---------------------------------------------------------------  That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you next week! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. 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