US-based venture capital fund Earthshot Ventures has invested an undisclosed amount into aquaculture company Aquabyte.
Aquabyte, founded in 2017, has operations in Chile, Norway and the US, providing camera technology in salmon farming cages to film and analyse fish.
The move by Earthshot Ventures, which operates a $60 million fund, was announced on LinkedIn by company principal Matt Logan, who praised Aquabyte’s computer vision-based SaaS for enabling fish farmers to better understand the health of their fish.
“Farmed fish is a climate friendly protein source, generating eight times fewer GHG emissions than beef per gram of protein. Moreover, Aquabyte helps fish farmers manage operations in a manner that benefits local ecosystems by reducing overfeeding and reduces the amount of parasites and treatments needed to sustainably grow fish. The company is also executing on a comprehensive ESG program developed with experts from Series B co-investor The Nature Conservancy,” Logan wrote.
“We’re thrilled to back Aquabyte’s CEO Bryton Shang and the awesome team that he’s developed, both in Norway and the US,” Logan added.
SalmonBusiness has reached out to Aquabyte and Earthshot Ventures for comment.
