Aquabyte has announced the completion of its Series B financing of $25 million. In more detail, the investment has been led by SoftBank Ventures Asia. The company uses computer vision and AI so fish farms can access the health, growth, and sustainability of their fish.
Thereby, Aquabyte has raised a total of $46 million since its founding in 2017. Also, it will use this financing to scale its business, monitoring more species in more countries. The Nature Conservancy and Westerly Winds also joined the round as new investors. Along with an international celebrity not named.
Thanks to Aquabyte, fish farms can virtually monitor the health of their underwater fish. Our engineering team solved that problem with a smart underwater camera. It can accurately detect lice, and monitor other welfare indicators. Also, identify and weigh individual fish without removing them from the water," Bryton Shang, Aquabyte Founder, and CEO explained.
Firstly, Karim Abdel-Ghaffar Plaza, Managing Partner at Westerly Winds, said about Aquabyte: "It is a clear leader. Enabling the path towards a healthier aquaculture industry is needed to feed the growing world population. We're tremendously excited to be backing the team and business in the years to come."
Also, Sherman Li, Partner at SoftBank Ventures Asia, noted: "By combining machine learning and computer vision with fish welfare insights, Aquabyte is leading a transformation in the aquaculture and food industry. We are proud to support their journey. As their achievements align with our mission of helping build a sustainable future, globally."
On the other hand, Greg Sands, Founder and Managing Partner of Costanoa Ventures talked about their first seed investment in Aquabyte. "Their growth since then is proof their vision provides real value to an entire industry and is helping transform it," he indicated.
Finally, Greg Papadopoulos, Venture Partner at NEA added: "Mass market appeal and the potential for positive global impact make for very exciting investment opportunities—Aquabyte has both. We're thrilled to continue partnering with the Aquabyte team through this next phase of growth."
Aquabyte focuses on fish welfare, computer vision/AI, and engineering, to improve fish farming efficiency and sustainability. Its international team of machine learning experts, entrepreneurs, and aquaculture biologists is focused on delivering solutions with a real-world impact.
With offices in San Francisco, New York, Chile, and Norway, Aquabyte partners with fish farms to transform aquaculture and meet the world's growing demand for sustainable protein.