Profile of Gibran Huzaifah: From Catfish Farmer to Founder of eFishery Now in the Spotlight

Kapanlagi.com - Gibran Huzaifah, the visionary behind eFishery's success, has changed the face of the aquaculture industry in Indonesia with brilliant technological innovations. Starting from his concern over the inefficient way of feeding fish, he created a smart feeder—a smart device that utilizes sensors and advanced algorithms to optimize the feeding process. Since its establishment in 2013, eFishery has rapidly soared and successfully attracted the attention of major investors, making it one of the leading unicorns in the country.

However, behind the shining success, Gibran's name is now under sharp scrutiny after being involved in a scandal regarding alleged manipulation of eFishery's financial reports. Investigations by investors revealed indications of revenue inflation reaching billions of rupiah during certain periods. As a result, at the end of 2024, Gibran was removed from his position as CEO, and the company is now facing pressure from various parties.

So, what has been the journey of eFishery to become a public spotlight? What makes Gibran able to surprise many people with this fish farming start-up innovation? Check out the complete review summarized by Kapanlagi.com, Saturday (1/2).

1. The Beginning of Gibran's Journey: Initially a Catfish Farmer

Gibran Huzaifah, an alumnus of the Bandung Institute of Technology (ITB), began his inspiring career journey as a catfish farmer during his college years. From this experience, he discovered significant challenges in fish farming, namely high costs and inefficiencies in feeding.

In 2013, Gibran created a smart feeder, an advanced innovation based on the Internet of Things (IoT) that automatically regulates the amount of feed according to the fish's needs, claiming to save costs by up to 28 percent and increase productivity for farmers.

With passion and determination, he founded eFishery, a revolutionary startup in the aquaculture technology field, which he started from a rented garage with limited capital, and has now rapidly grown into a pioneer in this industry.

2. The Development of eFishery: From Startup to Unicorn Status

After its official launch, eFishery quickly caught the attention of investors who were eyeing the brilliant potential of technology-based aquaculture businesses. In 2015/2016, this startup successfully secured initial funding that propelled them to expand operations and mass-produce devices.

In a short time, eFishery not only focused on smart feeders but also launched various innovative services such as eFisheryFund, which provides financing access to fish farmers, and eFisheryKu as an education and aquaculture management platform. Thanks to this success, Gibran's name soared into the Forbes 30 Under 30 Asia 2017 list.

Ultimately, in 2023, eFishery achieved unicorn status after receiving a Series D funding of 200 million USD (approximately IDR 3 trillion), and is now proud to collaborate with over 30,000 farmers across Indonesia, making it the king of the national aquaculture industry.

3. Controversy and Allegations of Financial Report Manipulation

At the end of 2024, eFishery found itself under sharp scrutiny after allegations of financial report manipulation involving Gibran Huzaifah came to light.

Investors conducting investigations discovered indications of astonishing revenue inflation, nearly reaching 600 million USD or around IDR 9.74 trillion in the last nine months.

Not only that, there were also striking discrepancies between the number of smart feeders claimed by the company and the data revealed in the investigation; eFishery claimed to have over 400,000 units, while the facts on the ground showed a much lower figure.

The case became even more complicated after a report from FTI Consulting revealed allegations of involvement by several executives in data manipulation, as well as practices of document forgery and pressure on employees to participate in this scandal.

4. Impact on eFishery and the Aquaculture Sector

The controversy surrounding eFishery has shaken the operational foundations and reputation of the company, forcing Gibran Huzaifah to resign from the CEO position, with Adhy Wibisono taking over as the interim leader.

This incident has also led some investors to begin withdrawing their support, adding uncertainty to the future of eFishery's business. However, amidst this turmoil, the Ministry of Marine Affairs and Fisheries (KKP) has affirmed that their collaboration with eFishery on the saltwater tilapia farming project continues to run smoothly.

"The saltwater tilapia farming program in Karawang, which collaborates with eFishery, is not affected by the current conditions," explained the Special Staff of the KKP Minister, Doni Ismanto Darwin, as reported by ANTARA.

5. Gibran Huzaifah Has Not Responded Yet

After being dismissed from eFishery, Gibran Huzaifah's future has become a mystery that surrounds many parties. Until now, he has remained silent regarding the allegations of financial report manipulation that tarnish his name. Meanwhile, the investigation process against eFishery continues, with many eagerly awaiting the final results.

If found guilty, Gibran could face significant legal consequences, given the scale of the reported fraud allegations. On the other hand, eFishery is now working hard to regain the trust of its investors and business partners.

With new leadership, the company is expected to bring about reforms in financial governance and ensure that its business practices will be more transparent in the future.

6. What is the main innovation developed by Gibran Huzaifah?

Gibran has created an amazing innovation: a smart feeder, an automatic fish feeding device connected to the Internet of Things (IoT). With this advanced technology, efficiency in fish farming has significantly increased, making it easier for farmers to manage feed accurately and efficiently.

7. How did eFishery become a unicorn?

This company has rapidly soared thanks to various brilliant innovations it has launched, and recently it successfully secured a fantastic Series D funding of Rp3 trillion in 2023.

8. What caused Gibran to be removed from eFishery?

In a shocking investigation, allegations of revenue inflation amounting to a fantastic figure of Rp9.74 trillion have emerged! This finding has triggered a wave of disappointment among investors, who now doubt the integrity and transparency of the company.

9. Is eFishery still operating after this scandal?

eFishery is now moving forward with a new spirit under the leadership of Gibran Huzaifah, committed to improving its business governance. Amid the ongoing dynamics of the case, the public is eagerly awaiting the innovative steps and smart strategies that eFishery will take to achieve success in the future.

(kpl/srr)