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

Southeast Asia’s startup ecosystem is facing a funding drought and a scandal involving Indonesian agritech unicorn eFishery, which is being investigated for financial malpractices. The company, backed by investors like SoftBank Group and Temasek Holdings, is accused of inflating revenue by $600 million and hiding a $35.4 million loss. EFishery’s board has appointed FTI Consulting as acting management amid discussions of liquidation or buyout by investors.

Full Article