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Aquaticode closes US$6 million in first its external round of financing

Aquaticode has recently closed US$6 million in its first external round of fundraising.

Investors included Nacre Capital, Innocreative Capital, Martin Halusa (former Apax chairman) and Einar Wathne (NCE Seafood Innovation Cluster chairman).

The funds will accelerate projects to detect, identify, and predict relevant performance traits across multiple marine species.

“Aquaticode is ready to take a leading role in the blue food revolution,” said Einar Wathne, Aquaticode advisor and chairman of the NCE Seafood Innovation Cluster. “Their innovations enable farmers to produce more with less. But this is only the beginning. Aquaticode can decode a world of knowledge from an array of pixels – which will change the way fish are farmed in the future.”

Aquaticode is launching its first two products this fall, both capable of identifying gender in juvenile salmon through non-invasive methods:

• SORTmini (portable scanner), and
• SORTpro (an automatic, high-speed machine).

The solutions are the result of more than 15 industrial research partnerships, and an unparalleled database of more than three million images and videos.

“The fundraising round and the incoming sales revenue allow us to fulfill the market’s demand for our machines. This enables a transition from start-up to scale-up,” said Stian Rognlid, Aquaticode’s CEO.

www.aquaticode.com