Poseidon announces US$20.75M Series B Financing
Summary
These technologies combine to form a compelling value proposition for modern salmon farming operations; increasing yields, reduced operating costs and improved environmental outcomes.Poseidons customers include some of the worlds largest salmon farmers, and the funding will enable Poseidon to continue their expansion into global markets; deepening their relationships with Canadian, Chilean and UK farmers, and expanding into new markets.This funding represents an inflection point for the Poseidon team, allowing the company to target key growth areas for the business as well as dedicate new resources into our manufacturing capabilities. said Jamie Gaskill, Chief Executive Officer of Poseidon.An environmentally sustainable aquaculture industry is critical to relieving pressure on wild fisheries, said EIF Managing Partner James Everett. EIF is excited to lead Poseidons Series B financing, as we believe the companys innovations can play an important role in minimizing environmental impact and improving fish health. The Company is focused on improving fish welfare, while reducing the environmental impact of producing nutritious, sustainable protein to feed the global population. EIF takes a systems-based approach to sustainability investment, studying both the drivers for change as well as the constraints to innovation in market niches that are ripe for development.