Aquabyte raised $10 Million in a Series A funding round co-led by Costanoa Ventures and New Enterprise Associates.
Aquabyte, a Bergen, Norway and San Francisco, US, aquaculture company using computer vision and machine learning software to improve fish farming efficiency, announced the completion of series A funding round totalling $10M.
The round was co-led by existing investors Costanoa Ventures and New Enterprise Associates, and included Alaya Capital Partners, Alliance Venture, Struck Capital, and a number of undisclosed angel investors.
Aquabyte also adds Chandran Sankaran as an independent board member.
The company will use the funding to accelerate product development by doubling its team and expand into new geographies including Scotland, Canada, and Chile. It will also grow its product line to include estimating fish appetite and quality, predicting sea lice outbreaks, and automating feeding.
Aquabyte, founded in 2017 and led by CEO Bryton Shang, built a tech product aiming to improve the efficiency in the fish farming industry. In 2019, Aquabyte started working with Norwegian salmon and trout farms which use their tech to detect the weight of a group of fish within 0.8 percent of the true weight, with an accuracy of 95%.
Prior to this round, Aquabyte raised $3.5M in 2018.