Reeling in Indonesia’s next unicorn

More: Didi’s short-lived stint on the New York Stock Exchange and Ant Group’s second chance at public markets. [Read from your browser]( Daily Newsletter Hello {NAME} In 2019, a [video]( about a fish being loaded into a chute through a rubbery, translucent sleeve - the “fish tube,” as the internet decided to call it - went viral. Even before the fish tube became well-known, television host John Oliver [paid tribute]( to the device by assembling an impressive cast of celebrities that included Tom Hanks and Homer Simpson and shooting fish at them. The takeaway was clear: Inventive solutions in the fisheries space made headlines. Making our top story today is Indonesia’s eFishery, which stands within striking distance of US$1 billion in valuation. It has capitalized on the challenges that the country’s fisheries sector faces, including a lack of access to capital and inefficiencies in production, by building products that specifically cater to these bottlenecks. -- Deepti --------------------------------------------------------------- THE BIG STORY [EFishery could be Indonesia’s next unicorn]( The Wavemaker-backed startup logged over US$100 million in revenue in 2021 - an over 10x surge from 2019. --------------------------------------------------------------- PODCAST As digital banking rises to prominence in Indonesia, tech companies from various sectors have been dipping their toes in the game, partnering with and sometimes even acquiring digibanks. Leveraging their greater and easier access to capital, online and peer-to-peer lenders have also joined the fray. However, some question whether this move toward the digital banking space could spell doom for the lending sector. Will digibanks soon render online lenders obsolete? Or is there room for coexistence in the future? On [this episode]( of Deep Dive, Tech in Asia journalist Budi Sutrisno discusses what lies ahead for Indonesia’s online lending scene. Listen here: [Spotify]( | [Apple Podcasts]( --------------------------------------------------------------- TRENDING NEWS [Singapore-based satellite firm eyes $1b SPAC merger]( Kacific had previously considered merging with US-based blank-check firms but held off due to the risk of a regulatory clampdown, Bloomberg reported. [South Korean metaverse healthtech firm nets $1m seed money]( Cardio Health develops IoT devices for fitness equipment, allowing users to play games while exercising and earn redeemable digital currency. [Indonesian Shariah bank launches VC firm with $21m fund]( BTPN Syariah Ventura said that it is the first and only corporate VC that implements Shariah compliance in Indonesia. [Tiger Global-backed fintech unicorn secures $140m (Updated)]( The round values India-based Cred at US$6.4 billion, Entrackr reported. [Tencent shuts down game-streaming platform]( Penguin Esports was shut down to cut Tencent’s costs and reduce its involvement in the competitive gaming sector, South China Morning Post reported. [Shein crafts $50m fund to fight textile waste]( The fund has committed an initial grant of US$5 million annually for three years to The Or Foundation. --------------------------------------------------------------- EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Event* [Fintech Forum]( on July 7 Join us at this year's Fintech Forum, hosted by Tech in Asia and Amazon Web Services (AWS). We've brought together the fintech industry's leading technical experts and innovators to discuss the most important issues facing the sector, dive into the latest trends and opportunities to scale successful business, and share their strategies for staying competitive in the dynamic fintech space. - *Event* [SYNC]( on Aug 3rd-5th, Conrad Bali Tech in Asia is excited to host our first closed-door, in-person networking summit in two years at Conrad Bali, Nusa Dua. Headlined by best-in-class speakers in Asia's tech startup scene, join over 100 C-suites at SYNC, Asia's premier tech summit to reconnect and reinvent ideas outside the boardroom. Discover the SYNC experience - [apply for an invite today](. --------------------------------------------------------------- WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Graphic Design Intern]( at iGrow Jakarta, Indonesia - [Frontend Developer (ReactJS)]( at Deliveree Indonesia Jakarta, Indonesia - [Store Manager (Beauty)]( at Female Daily Network Surabaya, Indonesia - [Backend Developer]( at DOMPET KILAT Jakarta, Indonesia - [Head of Finance & Accounting]( at Female Daily Network Jakarta, Indonesia - [Backend Engineer]( at Kargo Technologies Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( 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. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. 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