Toronto, Canada-based Wittaya Aqua has pulled in USD 2.8 million (EUR 2.6 million) in seed round funding that will help it build out its aquaculture data-collection platform.
Wittaya Aqua is a technology platform for aquaculture producers, feed mills, and ingredient suppliers that consolidates existing data points across the seafood supply chain to drive 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,” Wittaya Aqua Co-Founder and CEO Evan Hall said in a press release. “We’re here to stand in this gap to lead the development of aquaculture's evolving digital ecosystem, ensuring it’s an accurate and equitable playing field where farmers, feed mills, and ingredient suppliers can all grow together.”
The funding will advance Wittaya Aqua’s effort to further develop its feed-to-farm platform and expand into the Asia-Pacific region. Investors participating in the 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 ground-truthed insights that are calculated from the full range of data – from deep nutritional biology of each species through to commercial data of each market on a global basis,” Yield Lab Asia Pacific Co-Founder Larry Taylor said. “By aggregating and analyzing 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. Their transformation of aquaculture into a more efficient, sustainable, and data-driven industry is unmatched. With this technology in industry hands, global seafood production is propelled into its future.”
Wittaya Aqua said users of its platform are located in 10 countries and include 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 said it is hoping to double its reach year over year in 2024.
The firm's platform collates information on aquatic animal growth, feed intake, efficiency of feed utilization, 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,” Aker BioMarine Product Director Marianne Nergård said. “With the software, we are able to better estimate both the nutritional and the economical 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.”
