Cohort Cork 2018
FinTech startup Alune is tackling the challenging ‘access-to-finance’ issue faced by thousands of shrimp farmers across Asia and South America. They only partner with the highest performing shrimp farms and enable an opportunity for investors to benefit from highly attractive returns associated with this sector. On the farmer side, along with vital operating capital, Alune brings expertise and new technology to their partner farms, helping them to increase crop yield efficiency and reduce disease risk. Alune’s goal is to provide high liquidity investments while supporting farmers in running efficient farming operations, and ultimately reducing the environmental impact of shrimp farming as whole. They have developed a very important partnership with the Dept. of Fisheries of the Vietnam government and have three farms identified in Vietnam that huge potential for growth. In addition, there are two locations in Indonesia showing significant potential where Alune has an investment of €20k committed to run its first production cycle of shrimp, which it expects will commence in January 2019.
IctioBiotic is committed to developing environmentally friendly and novel oral antibiotic-free biotherapeutics used to promote sustainable aquaculture. Their mission is to become a key supplier of oral biotherapeutics that help reduce diseases and improve sanitary status of fish farms. To achieve this, IctioBiotic has developed a new class of oral biotherapeutics based on a platform of modified food grade microbes that express specific proteins to be used as immune-stimulants and vaccines. Their team of seven have accelerated with four products in the pilot phase and have already acquired IP already for one salmon immunostimulant in Chile. Their recent growth has help develop potential collaboration will all the interested key aquaculture industry stakeholders ranging from famers, investors, feed and pharmaceutical companies. They have also defined further investments for finishing pilot trials in Chile and R&D for disease prevention in other species.
With the growth of aquaculture worldwide, Minnowtech addresses one of the industry’s acute challenges: overcoming limitations in how aquatic farmers assess the abundance, growth, operation regimes and optimal harvest times of their crop. Their mission is to take the guesswork out for farmers and they are currently in the R&D phase for shrimp. They are seeking funding to further develop hardware and engage with customers through field trials, providing data digitization and giving farmers and buyers an edge on maximizing the trade off in harvest sizes and shrimp market prices. They potentially will also empower farmers to forecast prices, mitigate health issues and enable total production and cost reductions within farms and across the industry. Moving on from their first prototype tested in Indonesian farms, V2, a new device that is anticipated to be far more data robust is currently in development. .
Savitri Aquamonk, India
This India based innovation start-up brings technology inspired solutions, real-time monitoring and data management into the aquaculture industry. Their self-cleaning sensor-based IoT devices and environmental ERP farm management tool integrates operational and technical data for farmers to better understand and deliver more effective shrimp farming practices. Their cloud based dashboard facilitates farmers to better manage their production, water quality, power consumption, inventory, personnel and financials. The systems and structures developed have enabled them to fast-track their product development process, almost cutting to half the time, while ensuring scalability. Their software solution now has 35 ponds pushing the daily operations data to the cloud with another 30 ponds in the pipeline before the end of the program. Across multiple sites 4 weather sensing devices have also been deployed along with 3 handheld and 4 in-line water monitoring modules. Inputs from the farmers and potential clients are being taken at every stretch to provide solutions focusing on customer experience, convenience and affordability.
Prospective Research, USA
Prospective Research, Inc is creating feed incorporated preventative disease management solutions for the aquaculture industry that completely removes the need for antibiotics and medicated feed. The company’s technology platform allows them to modulate bacterial behaviour using microbial signalling molecules for the local delivery of therapeutics directly inside the gut of any farmed species. The company seeds trillions of bacterial pharmacies into the microbiome of fin-fish, shrimp, and shellfish, and can selectively turn on bacterial genes encoding bio-active therapeutics inside the animal for protection against bacterial, fungal, and parasitic pathogens. The company currently has products in trials against sea-lice in Salmon, and trials against SRS and EMS in Salmonids and Shrimp, respectively, are planned for Q1/Q2, 2019.
Wittaya Aqua, Canada
Wittaya Aqua boosts aquaculture profitability and sustainability by helping farmers regulate their feed administrations. They are an AgTech data and analytics startup developing a farm production management platform to increase farming efficiency through enabling better operational decision making. The platform is powered by the analysis of aggregated historical and real-time in-situ fish growth and biological data and driven by advanced mathematical and nutritional models. They have evolved their prototype into a MVP and have generated a lot of interest from feed and farm companies around the world. They have deployed software on four Indonesian shrimp farms with another six beta tests across shrimp, trout and tilapia. They have grown their team from 3 to 6 full time employees and are currently raising a pre-seed round to focus on product development and R&D with the intent of raising a seed round in mid-2019.
Cohort Bergen 2018
AlgaePro promotes industrial production of microalgae and sales of the algal biomass for end products, such as nutritional supplements, animal feed, cosmetics, feedstock, bio-plastic and fertilizer.
Aqua Connect, India
Aqua Connect's Omni channel marketplace provides Indian aqua-farmers with access to quality hatcheries, suppliers and export markets and addresses the sustainability issues of a 5.7 billion USD aquaculture products marketplace.
Currently, about 3000 shrimp farmers in the coastal districts of Andhra Pradesh and Tamil Nadu work with Aqua Connect to connect with the marketplace.
Finless Foods, USA
Finless Foods is producing high-quality seafood without mercury, plastic, antibiotics, or added growth hormones. They’re also doing it without fishing or any animal cruelty, by producing just the meat of an animal using cellular biology. This approach is creating a fresh and clean supply of previously expensive and unhealthy seafood products, without any of the downsides. It’s real fish, without the catch.
JALA is a shrimp farm solution where farmers can manage their farm based on data to boost yields and create a sustainable business. Jala provides a farming assistance that combines monitoring devices with a software platform. By using JALA, the farmers can monitor the water condition and get actionable insight to minimise the risk of failure. Jala's farm management tool helps farmers to do financial projects, planning, scheduling, and reporting to increase their yield.
Manolin brings a digital solution to accelerate the sharing of resources between companies to better treat, manage, and prevent sea lice outbreaks in the salmon industry. It streamlines the coordination between salmon producers and service providers to provide faster responses towards the prevention and treatment of health outbreaks. Using digital tools (mobile devices, dashboards), their platform will notify farmers of activities occurring throughout the industry and accelerate the communication available across farms, the government, and service entities.
Sensaway is the bridge between sensors and monitoring systems. Sensaway allows aquaculture companies to add sensors to their current network, aiming to improve sensor data quality, reduce maintenance costs and empower the end-user with an easy to maintain solution.
Founded by two Aerospace Engineers, it became clear that the harsh environment and electrical power conditions found at aquaculture companies reduced data quality and sensor durability.
Tradeit is a online seafood marketplace connecting the seafood industry by providing a full-end trading platform to allow importers and exporters to interact through a collaborative business model. Both the import and export sectors leverage their brand identity and origin by adopting a cohesive online presence. Exporters and importers participate by adopting a one-brand approach to a larger target audience of B2B clients.
Verifik8 helps to monitor and verify both social and environmental performances in the food supply chains. It provides data intelligence and analytics for robust suppliers’ screenings and monitoring international operations.
VerifiK8 re-invent compliance in mining data from the first mile throughout the supply-chain with a generic data-mining system and corresponding algorythms to match with any reporting framework and buyers’ requirement scheme.