WellFish Tech closes oversubscribed round for salmon blood-testing tech
What's the deal? Paisley, Scotland-based biotechnology firm WellFish TechDealroom has a profile for this one. Try Dealroom → has completed an early-stage financing round, which it said was oversubscribed. The company did not disclose the amount raised. Investors from Norway, the UK, and the EU participated.
What's the endgame? WellFish Tech has built technology for non-lethal blood sampling of Atlantic salmon in aquaculture operations. It uses the data to give salmon farmers forecasts on mortality and other health concerns.
Why now? The company recently secured regulatory approval to run its tests in Norway from the Norwegian Food Safety Authority. It also finalised a commercial partnership with Bergen-based Salmon GroupDealroom has a profile for this one. Try Dealroom →.
What did investors want? Group finance director Erik Tveteraas said backers were drawn to both mortality prediction and the company's future pipeline. That pipeline is "focused on expanding the application of physiological biomarkers into additional areas of fish health, welfare, and quality assessment," he said.
The signal: "The demand for physiological data in production decision-making is accelerating, aligned with increasing pressure to improve fish health outcomes," Tveteraas said. The strong investor response points to rising commercial interest in data-driven tools for the aquaculture sector.
Read more: seafoodsource.com
Image credit: Wellfish Tech
