Bluefront Equity acquires Piscada’s aquaculture business
Bluefront Equity has agreed to acquire the aquaculture division of software firm Piscada, expanding its portfolio of digital solutions for the seafood industry.
The unit, headquartered in Trondheim and employing 7–8 people, develops software platforms that automate feeding operations and provide visual monitoring and decision support for both sea-based and land-based aquaculture. Piscada’s customers include Mowi, Lerøy, and Grieg Seafood. In 2024, the aquaculture division generated revenue of approximately NOK 22 million ($2.1 million / €1.9 million) and delivered a positive operating result.
“We believe that digitizing core processes and enabling biology and economics to work in tandem is the key to a more efficient and sustainable seafood industry. That is also why we acquire Piscada’s aquaculture business,” said Kjetil Haga, partner and CEO at Bluefront Equity.
Piscada’s aquaculture head Steinar Fossen will become managing director of the newly acquired entity.
“Those of us in Piscada who work with the fish farming industry look forward to becoming part of a fully-fledged aquaculture team in Bluefront,” said Fossen.
The transaction will see the aquaculture business carved out of Piscada and fully owned by Bluefront’s second fund, Bluefront Capital II. Financial details were not disclosed.
“Piscada has developed its aquaculture platform to become a competitive and profitable solution that is utilized by highly attractive customers,” said Piscada AS managing director Torgeir Pedersen. “Bluefront is the right owner to elevate our aquaculture platform to another level.”
This marks Bluefront’s fifth software investment in aquaculture, following earlier stakes in Seaqloud, Naviaq, Spillfree Analytics, and Horizon Software.
Johan Kostveit, investment manager at Bluefront, said the firm sees “immense potential in increasing the amount of data feeds integrated in the system,” which could offer fish farmers “a more holistic overview of their cages, enhanced control of feeding operations and strengthened decision support.”