Vietnamese Shrimp Farming Platform Tepbac Secures $2.25 Million in Funding

Vietnam-based Tepbac has recently secured $2.25 million in a pre-series A funding round, led by the Dutch aquaculture investor Aqua-Spark. This funding aims to advance the digitization and scalability of shrimp farming in Vietnam, potentially transforming a vital sector of the country’s economy.

The funding round also saw participation from AgFunder, a prominent venture capital firm based in Silicon Valley, along with Son-Tech Investment— an investor with a $50 million focus on Vietnamese startups across various sectors such as edutech and fintech. AgFunder, a prior investor in Tepbac, highlighted that this new investment will help enhance Tepbac’s technological suite, making shrimp farming operations simpler, more cost-effective, and better able to support informed decision-making.

Vietnam is increasingly recognized as one of the top five shrimp producers globally. In fact, shrimp exports from the country have surged by 11% year-over-year, reaching a staggering $4.3 billion in 2022, according to the Vietnamese Association of Seafood Producers and Exporters. This promising trend positions Vietnam for ambitious goals; the country aims to triple its production capacity moving forward.

Tepbac originally started as an aquaculture media platform in 2012, evolving into a comprehensive knowledge center for aquaculture—offering the latest industry news, seafood prices, and a wealth of information designed to empower farmers. In 2017, they launched Farmext, a sophisticated technology platform that integrates both hardware and software, aimed at alleviating the risks associated with shrimp farming across Vietnam’s aquaculture supply chain.

Farmext is equipped with innovative tools such as a remote-controlled auto feeder and a water quality monitoring device. Together, these tools enable farmers to streamline their operations, greatly reduce labor and energy costs, and maintain better oversight of their farming activities via a centralized software system that tracks farm data.

One of Tepbac’s standout features is its affordability. The company claims its solutions are not only cost-effective for shrimp farming but also adaptable for other marine species. Farmers using Tepbac’s software can keep a detailed ‘farming diary’ to monitor various elements, such as feed usage; the system analyzes this data to provide insights on operational costs and profit expectations.

As a result of its innovative approach, Tepbac has already reported significant improvements for the farmers it serves, including a 20% reduction in costs and a remarkable 30% increase in profits. With further financial support and technological enhancement, Tepbac is poised to play a vital role in reshaping the future of shrimp farming in Vietnam and beyond.