Norwegian seafood investor Bluefront Equity is doubling its efforts to digitize the seafood sector by investing in aquatech. For this purpose, it joined to the Norwegian company Spillfree Analytics AS, which helps fish farmers to analyze and upgrade feeding processes and growth potential.
The Bluefront Equity financial philosophy is to invest in companies with products, services, and technologies sustainable with the seafood value chains. Also, this includes the digitization and automation of the aquaculture industry.
Bluefront Equity's strategy is to co-own and develop businesses with the founders and current owners. This will also be the case with Spillfree.
Technology is the key of the industrial development and aquaculture is not an exception. Thus, Bluefront sets its sight on Spillfree to contribute to feeding.
The Spillfree service is related to decision support and services for biological and feed optimization in aquaculture production. In short, the company's customized tools and software tailor-made are developed in collaboration with fish farmers and are based on years of practical experience.
For instance, Simen Landmark, partner of Bluefront Equity, explained how Spillfree can improve industry. "Through video and data analysis, contribute towards delivering word-class feeding performance, with lower costs for the fish farmer, improved fish growth, and minimal impact on the marine environment."
Spillfree's product portfolio is complete. Concretely, it includes the analytical tool VideoTools, AquaTools, DrawTools, and LearnTools. Besides, the next-generation tools are currently in development and the first modules will launch during 2023.
Finally, Landmark concluded that "We believe that improved utilization of artificial intelligence, and less reliance on gut feelings. It will represent a significant competitive advantage for fish farming companies. We are very impressed by the Spillfree team's work, and we will contribute towards further enhancing their efforts. Our objective is to offer an even more valuable product to fish farming companies."
Bluefront Equity is the only independent, Nordic private equity firm that focuses solely on the seafood industry. Thus, the fund invests in small and medium-sized seafood companies that can make the future seafood industry more sustainable. Bluefront Equity was established by Kjetil Haga and Simen Landmark and is based in Oslo.
Spillfree is a leading aquatech company, based in Trondheim, Norway. We help fish farmers to optimize biological performance and feeding in aquaculture production. Spillfree was established in 2016 by founder and CEO Vidar Myhre. In 2018, Spillfree merged with Aqua Analytics.
