Country: Madagascar
Sector of activity: Agriculture
Status: Capital investment
Associed fund: IPAE 1
Entrepreneur: Jaco Chan Kit Waye and Olivier Méraud
Employees: 152
In portfolio since: 2012
En portefeuille depuis

IOT est une entreprise d’aquaculture industrielle de concombres de mer basée à Madagascar. Cette aquaculture est réalisée sur la base d’une technologie de reproduction développée à Madagascar.

Indian Ocean Trepang (IOT) is a Malagasy company specialized in the breeding and export of sea cucumbers. Local fishermen are associated with its activities, allowing them to generate additional income. The company actively contributes to preserving marine wildlife & fighting against overfishing.


IOT breeds sea cucumbers in the South of Madagascar. This specie’s reproduction remains scarcely human-engineered because of a high mortality rate during the early life stages. IOT’s growing technique was developed by a team of Malagasy scientists, being the only company in Madagascar to control the process. Sufficiently mature, larvae are ceased to neighboring fishermen who raise them to maturity before re-selling them to IOT to be dried, packed and exported.

This specie does not require any additional food but the natural waste found in the sand. Thus, their breeding does not have any other incident on their natural environment apart from clearing the water.


Indian Ocean Trepang is one of the company featured by the project Small is Powerful


The Team

Jaco Chan Kit Waye is Manager of Copefrito SA and Chairman of the Seafood Export Companies Association. In 1995 he founded Copefrito which exports squids and calamari to Europe.

Olivier Méraud works since 2004 with Copefrito as an operational officer. He has been a Merchant Navy captain and worked in fishing and seafood business for 12 years. He created Madagascar Seafood in 2005, a crab, squid and lobster export company.


Partnership with I&P

I&P committed alongside with IOT

• To help the company improve its GIS

• To finance the farm site construction



• 152 jobs created or maintained over 6 years, including 77 permanent positions and 11 as technicians or managers

• Pilot project in the sea cucumbers breeding with good prospects to be reproduced

• Steady revenue-generating activity for the local fishermen and neighboring villages

• Awareness raised on the wild specie over-exploitation and repopulation of the natural stocks


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