Participated · Equity · May 2025

Ace Aquatec develops welfare-first aquaculture technology, including AI cameras that track fish weights, detect health issues such as wounds or maturation, and track individuals across multiple species. The company also produces humane slaughter systems for farmed and wild fish that use electricity in water. Led by CEO Nathan Pyne-Carter and based in Dundee, the firm supplies tools aimed at improving both fish welfare and operational performance for farmers. The recent financing will enable development of data-driven tools to provide actionable insights for customers worldwide. Ace Aquatec plans to use the funds to expand its presence in Scotland, Chile and elsewhere in South America and to create 15 new roles. The description and future plans are drawn from the company's statements accompanying the funding announcement. ACE Aquatec is a Dundee-based aquaculture technology firm focused on welfare-centric solutions for fish farming. Its product portfolio includes a biomass camera that uses artificial intelligence and machine learning and is now in production following successful trials. The company says the new capital will be used to boost its product range, market reach, and distributor network across key markets including the UK, Europe, Canada, Southeast Asia, and South America. The funding is expected to support hiring in engineering, software, and sales support, with the company projecting ten new jobs in Dundee and Chile. ACE Aquatec has raised more than £10m since its Series A round, and the recent £2.5m injection from sustainability investor Earth Capital complements prior investments from Aqua Spark and Chroma Ventures. Board changes tied to the deal include Earth Capital’s Bradley Jones joining ACE Aquatec’s board, with Chris van der Kuyl of Chroma Ventures serving as chairman and Nina Santi joining as a non-executive director. Ace Aquatec develops hardware and systems for more sustainable, welfare‑focused aquaculture, including predator deterrents, an in‑water electric stunner, and 3D biomass estimation. The company has recently developed a sea‑lice removal system in partnership with a local salmon farm and is working on new lice detection and fish‑monitoring projects. It also has renewable barge projects underway and is increasing the scale and number of R&D initiatives. Ace Aquatec operates a rental fleet of equipment to serve domestic and international customers and plans to expand that stock. The company has won two Queen’s Awards for innovation and industry prizes such as the Aqua Nor and GOAL Innovation Awards. Management is pursuing an ambitious recruitment drive and new academic and industrial partnerships to validate systems in the field.

Participated · Series A · Mar 2024

Kuehnle AgroSystems develops a dark fermentation platform to produce high-value microalgal ingredients, with its lead product being natural astaxanthin for aquaculture, human nutrition and animal health. The company demonstrated, with manufacturing partner Biorea, the world’s first industrially relevant production of natural astaxanthin oleoresin via dark fermentation, establishing a technical foundation for scaled production. KAS has a strategic collaboration with Corbion to advance process optimization, strain development, manufacturing scale-up and global commercialization. The platform is non-GMO and designed to use substantially less land, water and resources than conventional cultivation-based methods. Current plans focus on manufacturing scale-up, regulatory approvals, development and validation of salmon feed products, and commercial deployment to address growing demand in salmon aquaculture and nutraceuticals. The company aims to offer a more sustainable, secure and cost-competitive source of natural astaxanthin while expanding its scientific and engineering teams to support commercialization.

Led · Equity · Dec 2023

Aquarech is a Kenyan agri-tech startup that supplies high-quality extruded floating pelleted fish feed with better feed conversion ratios to small and medium-sized fish farmers. It pairs this feed with a credit platform and market linkages to help farmers access financing and customers. The company says these interventions will transition farmers to profitability and create jobs for women and young people in rural areas. Village Capital invested US$350,000 in Aquarech through its Reducing Inequalities Investment Facility, which is backed by the FMO’s MASSIF Fund. Co-founder and CEO Dave Okech emphasized bringing better feed directly to farmers' doorsteps supported by credit and market linkages. Village Capital highlighted Aquarech's alignment with climate resilience and economic mobility as reasons for the investment. Aquarech operates a mobile app platform that enables producers, farmers, and buyers to trade, buy, and sell high-quality fish feed while accessing best practices to increase incomes. The company offers high-quality feed, climate-smart precision fish feeding methods, market access, technical training, and a 90-day feed credit financing option. Its stated goals are to boost productivity, improve the financial situation of small-scale farmers, and expand Kenya’s aquaculture sector. Aquarech was founded in 2019 and is led by CEO and founder Dave Okech, alongside co-founders James Odede and Joseph Okoth. The startup raised $1.7 million in equity capital to facilitate deeper vertical integration of its technology. It plans to use the funds to hire talent, acquire more data, and set up infrastructure to grow its mobile-enabled platform.

Led · Seed · Oct 2023

Wanda Fish Technologies develops whole-cut cultivated bluefin tuna filets by growing muscle and fat cells in bioreactors to replicate texture, flavor and nutrition without slaughtering fish. The company has produced a 3D filet prototype differentiated into both muscle and fat tissues and says its proprietary technology can precisely control fat levels to create cuts including toro. Wanda Fish holds an exclusive licensing and sponsored research agreement with Tufts University and is working with David Kaplan at Tufts’ Center for Cellular Agriculture. Co-founded in 2021 by CEO Daphna Heffetz (PhD, former biotech executive), Malkiel Cohen and Yaron Sfadyah, the startup is still early stage but progressing toward scalability. The $7M seed will be used to optimize technology and accelerate scale-up of the cultivated whole-cut filet prototype, with plans to begin regulatory approvals in early 2025 and to sell into restaurants in 2026. Wanda Fish develops cultivated seafood, aiming to produce sustainable fish fillets from fish muscle and fat cells using a non-GMO cell-culture platform. The company has signed an exclusive licensing agreement with Tufts University to access IP developed by David Kaplan and will support a two-year research programme into fish cell production. Wanda is working with Israeli and U.S. teams — the Israeli team is led by Malkiel Cohen, PhD, while the U.S. contingent falls under Kaplan — and is finalising a prototype fillet. The startup says it uses animal-free growth mediums, custom scalable bioreactors, and aims to reproduce native nutritional, flavor and textural properties while avoiding contaminants like microplastics and mercury. Wanda raised $3 million in a pre-seed round and received support from the Israeli Innovation Authority to advance its R&D. No timetable for prototype completion or product launch has been disclosed.

Participated · Series A · Apr 2023

Tepbac builds an IoT-enabled hardware and data system for shrimp farmers and operates an aquaculture media and e-commerce platform that began in 2012. Its Farmext suite, launched in 2017, combines remote-controlled auto feeders, water-quality monitoring devices and software that tracks farm data, automates operations and lets farmers keep a "farming diary." The software analyzes feed and other inputs to estimate operational costs and expected profit; Tepbac says its solutions have reduced farmers' costs by about 20% and increased profits by about 30%. Its water-quality monitor measures oxygen every five minutes and can automatically control aeration, which the company says can cut electrical fees by roughly 30%. Tepbac has served about 1,500 farms across small and large operators, processors and government customers in Vietnam, and its solutions can be used for shrimp and other marine fish. The company plans to use recent funding to scale its suite of technologies to simplify operations, lower costs and improve decision-making for farmers.