Canadian land-based aqua startup reels in $8 million investment

ReelData’s latest funding round was led by Buoyant Ventures, with additional investment from S2G Ventures and The Nest Family Office. As the aquaculture industry continues to expand rapidly, investors and entrepreneurs are looking to land-based pioneers as potential industry disruptors. According to the Food and Agriculture Organization of the United Nations (FAO), aquaculture production is projected to reach 109 million tons in 2030, an increase of 32% (26 million tons) from 2018. increase. nutrition strategy.

Matthew Zimola, co-founder and CEO of ReelData, said: “Farmer at ReelData.His first approach has allowed us to gain a deep understanding of the pain points our partners face when it comes to scalability. It helps us push the boundaries of what we can do.”

By all accounts, the land-based aquaculture industry has ambitious goals. If these businesses can scale effectively, the industry as a whole will be able to maintain its growth trajectory. Onshore facilities are complex and require real-time, accurate decision-making. ReelData will use the raised funds to develop a precise and autonomous operating system to unlock the future of land-based aquaculture and the sustainability advances it promises.

“Our investment in ReelData demonstrates our belief that advancing sustainable seafood production is important to the health of our planet and people. Amy Francetic said:

ReelData’s first-to-market product, ReelAppetite, identifies a population’s appetite in real time and adjusts feed levels accordingly to maximize biomass while limiting waste. The technology has helped the company save up to $2-3 million in wasted feed per 10,000 tons of annual production, in addition to the associated savings from improved growth rates and reduced production risk.

Larsen Mettler, Managing Director of S2G Ventures, said: “The company’s pace and efficiency in introducing new technologies in this space is unmatched, enabling us to deliver impressive results to our partners and drive growth while reducing costs and environmental impact. “

ReelData’s latest product is ReelBiomass. This is the only biomass estimation camera system built from the ground up for RAS and flow-through systems. ReelBiomass technology can monitor the size, weight and distribution of fish populations with high precision, eliminating the need for tedious weighing that puts fish at high levels of stress and ultimately slows their growth rate.

Learn more about our company here.

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