July 22, 2024

 

Canadian firm secures US$2.8 million in seed funding to enhance aquaculture data platform

Wittaya Aqua, a Toronto, Canada-based company, has raised US$2.8 million in seed round funding to further develop its aquaculture data-collection platform, SeafoodSource reported.

 

Wittaya Aqua provides a technology platform for aquaculture producers, feed mills, and ingredient suppliers. The platform consolidates data points across the seafood supply chain to improve efficiency, profitability, and sustainability.

 

"In the face of climate change, uncertain market dynamics, and evolving supply chains, ensuring the sustainable provision of seafood requires every stakeholder to adapt. But there is still a critical need to harness and transform the deep knowledge they each own into actionable strategies; Wittaya Aqua is built to respond to this," said Evan Hall, co-founder and CEO of Wittaya Aqua.

 

The funding will support Wittaya Aqua's efforts to develop its feed-to-farm platform and expand into the Asia-Pacific region. Investors in this round include The Yield Lab Asia Pacific, SEEDS Capital, Future Planet Capital, Conservation International Ventures, and SeaAhead Blue Angels.

 

"Only with Wittaya Aqua do all practitioners have access to insights calculated from the full range of data – from deep nutritional biology of each species to commercial data of each market on a global basis," said Larry Taylor, co-founder of Yield Lab Asia Pacific.

 

"By aggregating and analysing data across the value chain, their platform equips decision-makers at feed mills, farms, and ingredient suppliers with critical actionable insights tailored to their unique market challenges," he said.

 

Wittaya Aqua's platform is used in 10 countries and includes clients such as De Heus, Uni-President, US Soybean Export Council, Soy Aquaculture Alliance, Temasek Lifesciences Laboratory, AquaChile, dsm-firmenich, Corbion, AGT Foods, POET, and Botaneco. The company aims to double its reach year over year in 2024.

 

The platform collates information on aquatic animal growth, feed intake, efficiency of feed utilisation, survival rates, water temperature, and other water quality metrics. It then uses a proprietary analytical model to produce actionable recommendations for operational optimization.

 

"Wittaya AquaOp Feed has enabled us to gain a deeper understanding and validation of the value QRILL Aqua have in the feed formulations in different parts of the world," said Marianne Nergard, product director at Aker BioMarine. "With the software, we are able to better estimate both the nutritional and the economic value of adding our raw materials into the diets, which is highly valuable in preparing product strategies and in our conversations with partners and customers."

 

-      SeafoodSource