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SoftBank-Backed Fish Firm Allegedly Faked Most of Its Sales
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Subscribe24 JAN 2025 / BUSINESS
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Indonesian agritech startup, eFishery, backed by major investors like SoftBank and Temasek, is being investigated for fraudulently inflating its revenue and profit figures. The scandal has widely shaken the country's startup scene and investor trust, leading to significant reassessment of risks and due diligence practices, especially in emerging markets.
EFishery Pte, a high-flying agritech startup from Indonesia, just got tangled in a major fraud scandal that’s rattling the entire startup scene there. This company, which snagged hefty investments from industry giants like SoftBank and Temasek, is now und...
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