Indonesian Agritech Unicorn EFishery Probe

This is a news story, published by CNBC, that relates primarily to eFishery news.

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Indonesian agritech unicorn eFishery

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startup ecosystem

CNBC

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World

'Chilling effect': Here's what an Indonesian startup scandal means for the region's struggling scene

Summary

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81% Informative

Indonesian agritech unicorn eFishery is under the scanner as an ongoing probe suggests that the company may have been committing misconduct, including fraud.

Southeast Asia's startup ecosystem has been braving a multi-year funding drought, and the scandal has delivered yet another blow to investor sentiment in the region.

The allegations of fraud and misconduct by eFishery have reverberated throughout the region.

The aquaculture company was heralded as one of the most prominent examples of what a good startup looks like in Southeast Asia .

Industry experts say the scandal could have a chilling effect for, conservatively, 12 months , but probably longer.

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informal

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English

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