Agriloops aquaponic project concludes a €13M fundraising round

Agriloops has completed a second financing round with debt and grants, totaling 13 million euros. This funding allows the French company to begin the construction of its aquaponic facility for sustainable shrimp, Mangrove.

Therefore, Mangrove will be the largest aquaponic farm in Europe built on more than 1 hectare in the heart of Brittany, and with a production capacity of over 100 tons of shrimp and fruits and vegetables per year.

This second round has received support from a new banking group and its various historical investors, such as BNP Paribas Développement, OGHI, and several Business Angels.

Also, new investors have participated as SPV Aqua Invest, regional fund Breizh Up, the impact funds Transitions First and Good Only Ventures, and the Sustainable Ocean Alliance (SOA), a non-profit international organization based in San Francisco.

Finally, according to Agriloops, a record-breaking crowdfunding campaign managed by the Sowefund platform completed the investor table.

French prawns, sustainable and ultra-fresh

Agriloops was funded in 2016 by agronomist engineers Jérémie Cognard and Romain Vandame. Both have adapted aquaponics to the salty environment to offer a local shrimp aquaculture that respects nature and people. The first round of funding financed the R&D phase and a pilot farm in Rennes.

"Mangrove is a key milestone to demonstrate the scalability and profitability of our technology. We are eager to showcase our unique approach that offers significant environmental benefits while meeting the growing needs of our industry. We are extremely grateful to our investors for their trust and support, which provide us with the necessary resources to accelerate our development," Cognard and Vandame stated.

Regarding the funding process, Patricia Leyrat, BNP Paribas Développement, clarified: "We have been accompanying the team since its first seed funding round and stand alongside the company to continue its development and move from proof of concept to commercialization. We are convinced of the relevance of the technology implemented and that the aquaponic farm will demonstrate it."

Finally, Benjamin Wattinne, Director General y Fundador de Sowefund, noted: "Sowefund thanks all the investors who participated in this operation and congratulate Agriloops on its successful fundraising round. This new operation on our platform is another testament to our shared commitment to French innovation and sustainable agriculture."