Aquabyte Raises $10 Million Series A Financing to Continue Leading the Transformation of the Fish Farming Industry with Machine Learning
Summary
SAN FRANCISCO, June 11, 2019 /PRNewswire/ -- , the aquaculture startup employing computer vision and machine learning software to dramatically improve fish farming efficiency, today announced it has raised $10 Million in Series A funding, co-led by existing investors Costanoa Ventures and New Enterprise Associates, Inc., (NEA), with participation from Alaya Capital Partners, Alliance Venture, Struck Capital, and other angel investors. Fish farming represents the fastest growing food production sector in the world, presently a $240 billion global industry, and Aquabyte believes that now is the time to reduce its cost -- both environmental and financial. Earlier this year, Aquabyte launched general availability in Norway and has begun working with the leading Norwegian salmon and trout farms. It will also grow its product line to include estimating fish appetite and quality, predicting sea lice outbreaks, and automating feeding. "Aquabytes solution to a real-world problem is well on its way to transforming an industry," stated Greg Sands, Founder and Managing Partner of Costanoa Ventures.