August 4, 2021

 

Singapore-based shrimp aqua innovator gets investment from Bosch

 

 

Global technology conglomerate Bosch has invested in shrimp aquaculture innovator AquaEasy in Singapore, following the launch of an initiative to develop startups in the region.

 

AquaEasy uses sensors, software and services to provide data analysis supported by artificial intelligence to the shrimp sector. With its support, shrimp farmers in Indonesia, Vietnam and Singapore have been able to "increase yield, predictability, and implement sustainable aquaculture practices, while reducing risks and costs," said the company in a press release.

 

Bosch has engaged with the startup since 2018, providing support for it in various areas including market development, business strategies, recruitment, networks and partnerships.

 

"Through corporate venturing, Bosch has been able to expand into new domains such as aquaculture in an agile way. Our joint investment into AquaEasy reflects the strong market potential in Asia where the majority of global shrimp production takes place," said Choo Heng Tong, the new ventures and innovation vice president of Singapore's Economic Development Board. "As a corporate venture, AquaEasy leverages Bosch's deep sensor and AI expertise for its competitive edge, and is well-positioned to tap into this market from Singapore."

 

AquaEasy is the first startup that has received funding from Bosch and EDB New Ventures, an in-house innovation operated by EDB, a government agency under Singapore's Ministry of Trade and Industry.

 

On July 28, EDB New Ventures launched a startup incubation network that aims to leverage the city-state's position as an innovation center in the region.

 

- SeafoodSource