Fish-feeding tech startup Umitron bags $11.2m fund
Aquatech startup Umitron has successfully raised $11.2m (US$8.25M) in an equity financing round, which it claims is the largest aquatech early-stage investment. Umitron’s first product called Umigarden is an Iot-powered feeding management system that could optimise feeding cost through data.
A proprietary algorithm developed by the team is said to have the ability to detect when fish are hungry, allowing farmers to feed their fish at the right time. Data-driven analysis of feeding can significantly benefit the aquaculture industry especially as feeding represents roughly 50% of total production costs and avoid eutrophication and red tide.
Umitron’s technology optimises the aquaculture feeding process by reducing cost whilst reducing environmental risk. In May, Umitron entered into a research agreement with Ainan municipality, Ehime prefecture in
Japan to demonstrate the capabilities of their technology as they bid for the development of sustainable aquaculture.
“Umitron is here to install
Sustainable Aquaculture on Earth and improve safety, eco-friendly, stable supply of aquatic resources and work environment in aquaculture by technology,” the company said in a statement. It was a co-investment round by Innovation Network Corporation of Japan, Design for Ventures (D4V) by IDEO and angel investors. The financing will be used to strengthen Umitron’s existing services and research and development activities. Umitron also claimed that to date, this is the highest early-stage investment made in the aquatech sector.