Overview of Aruna’s Vision and Growth in Indonesia’s Fishery Sector
Aruna, an Indonesian fishery and marine platform, has ambitious aspirations to position Indonesia as the global hub for the maritime economy by 2045. In January, the company secured $30 million in Series A follow-on funding, raising its total Series A investment to $65 million. Chief Sustainability Officer Sus Utari Octavianty stated that Aruna aims to serve 200 million customers and create 26 million jobs, empowering 4.5 million fishermen across the archipelago.
The funding, spearheaded by Vertex Ventures Southeast Asia and India, will be channeled into geographic expansion and enhancing market share on a global scale. Aruna plans to recruit local talent to develop sustainable fishing technologies and infrastructure, thus supporting fishermen from Aceh to Papua to meet increasing fishery product demands.
Market Potential and Challenges
Vertex Ventures sees significant potential for Aruna within the business-to-business (B2B) fisheries market, especially given Indonesia’s status as the second-largest seafood producer globally, with a market size estimated at around $35 billion. However, the sector faces challenges, primarily due to inefficiencies in the supply chain, which heavily depend on middlemen. Aruna aims to streamline this by vertically integrating the supply chain through technology and fostering a diverse supply network.
Even though Indonesia is a major fish producer, it ranks only 12th in fish exports. Improving the value chain and aggregating supply will be critical for meeting export targets. Traditional fishing practices also pose ecological challenges; thus, Aruna is implementing strategies to promote sustainable fishing.
Strategy for Sustainability and Growth
Aruna employs a “Penta-Helix” stakeholder management framework, engaging various sectors—including government, local businesses, and academics—to develop a sustainable marine ecosystem. The company is committed to making a social impact, allocating resources for local fishermen’s families, and tackling environmental concerns, such as marine plastic waste and mangrove restoration.
Aruna’s game plan revolves around enhancing profitability while ensuring environmental and social sustainability. The company aims for a diversified product range and plans to expand its offerings, addressing the growing global demand for sustainable fishery products.
Competitive Landscape
Despite competition from other aquaculture tech startups like eFishery, Aruna believes there is ample room for growth in the sector. While both companies operate in aquaculture, they target different segments—Aruna encompasses all marine production, while eFishery focuses specifically on pond-based aquaculture.
Aruna has established a significant presence with over 26,000 registered fishermen and operations spanning Malaysia, Singapore, China, and beyond. The platform has successfully generated job growth and significantly increased fishermen’s incomes, with some reporting earnings that are three to twelve times higher than before.
Conclusion
Aruna’s focus on innovation, sustainability, and inclusivity positions it to play a transformative role in Indonesia’s fishery sector. With its sights set on establishing Indonesia as the center of the global maritime economy, the startup is committed to overcoming supply chain inefficiencies and advocating for a sustainable fishery sector, benefiting both local communities and the global market.
