Written By Japanese multinational conglomerate SoftBank Group Corp. has recently invested in Indonesia-based seafood delivery platform, Aruna. The company, founded in 2016, connects small-scale fishermen directly with buyers, bypassing middlemen and ensuring fairer prices for the fishermen.
With SoftBank’s recent investment of $35 million, Aruna is now valued at $100 million, officially entering the unicorn club – a term coined for privately held startups with a valuation of over $1 billion. Aruna plans to use the funds to expand its market, hire more employees, and improve its supply chain logistics.
According to the World Bank, Indonesia is the world’s second-largest producer of fish, after China. However, small-scale fishermen in the country often struggle to make a living due to their limited market access and the lack of price transparency.
Aruna’s innovative platform allows fishermen to sell their catch to a wider market, including international buyers. The company’s technology streamlines the supply chain process, ensuring that the seafood is transported quickly and efficiently.
The investment by SoftBank marks the latest in a series of ventures into the Southeast Asian region. The company’s CEO, Masayoshi Son, has long expressed his interest in the potential of the region’s tech industry, citing its youthful population and growing middle class.
In addition to Aruna, SoftBank has also invested in Indonesian ride-hailing giant Gojek and Singapore-based e-commerce platform Shopee. These investments align with SoftBank’s larger strategy of backing companies that are driving innovation and growth in emerging markets.
SoftBank’s investment in Aruna also highlights the growing interest in sustainable seafood practices. With concerns over overfishing and the impact of climate change on ocean ecosystems, companies like Aruna are providing a more environmentally conscious option for seafood consumption.
In a statement, SoftBank Investment Advisers’ Senior Managing Partner, Lydia Jett, expressed her enthusiasm for the investment, saying, “Aruna is revolutionizing the way that the seafood industry operates in Indonesia and beyond. We’re thrilled to support their mission to improve the livelihoods of small-scale fishermen and to bring transparency and traceability to the seafood supply chain.”
As the global population continues to grow, the demand for sustainable seafood practices is only expected to increase. Companies like Aruna, with their innovative technology and commitment to fair trade and sustainability, are well-positioned to capitalize on this trend.
With SoftBank’s investment, Aruna is now better equipped to expand its reach and impact. As the company continues to grow and innovate, it will be interesting to see how it continues to revolutionize the seafood industry in Indonesia and beyond.
