WellFish Tech completes oversubscribed funding round

Aquaculture biotechnology firm WellFish Tech has completed an oversubscribed interim financing round as the aquaculture biotechnology company prepares for a planned Series A fundraising process in 2027.

According to WellFish Tech, the round included undisclosed investors from Norway, the UK and the European Union in venture capital, family office and private investment networks.

The financing follows a period of increased commercial activity for the company, including new agreements in Norway and Iceland and ongoing collaborations in North America, South America, the UK and Ireland.

In July, WellFish Tech signed a major commercial contract with Norway’s Salmon Group, having received clearance in June from Norwegian authorities for the use of non-lethal blood sampling in Atlantic salmon at commercial aquaculture sites in Norway. The agreement covers systematic blood biomarker monitoring across a network of 40 owner companies producing more than 220,000 tonnes of salmon and trout annually.

WellFish Tech’s technology uses blood biochemistry to assess physiological changes in farmed fish. Its WellFish Predict model is designed to forecast mortality risk up to 28 days in advance, based on biomarkers which identify signs of disease and stress before visible symptoms develop.

“The response from investors reflects what we are hearing from customers,” said Erik Tveteraas, who joined the company as Group Finance Director in June. “The ability to see what is coming 28 days out changes the business, and investors understand what that precision is worth commercially. The demand for physiological data in production decision-making is accelerating, aligned with increasing pressure to improve fish health outcomes.”

The company said investor interest also extended beyond its "WellFish Predict" technology to other products and intellectual property under development, including applications of physiological biomarkers in fish health, welfare and quality assessment.