Aqua-Spark invests in Norwegian feed-tech company
Sustainable aquaculture investment fund Aqua-Spark has invested in a Norwegian software and hardware developer focused on improving feed management.
An Aqua-Spark investment of an undisclosed amount has been injected into CageEye, a company best known for its echo-sounder technology, which uses acoustic data and machine learning to measure and analyze biomass movements. The Norway-based company will use the funds to invest in research and development and hire new staff.
The firm believes its technology can be used to reduce over- or under-feeding of farm-raised salmon, thus reducing feed costs and increasing farming efficiency. Long-term, CageEye aims for its innovations to reach more species and the aquaculture industry at-large, according to CEO Bendik S. Søvegjarto.
“Current market practice is to use optical underwater cameras, which cover a very limited field of view and lead to highly subjective decisions,” Søvegjarto said. “Our acoustical system covers the whole feeding zone and makes consistent decisions meal after meal, which improve as we continue to train our models on growing datasets of salmon behavior and accompanying feed operator decisions.”
The new system would allow for more precise measurements of feed, and over time the software would enable companies to optimize the amount used in each farm.
“Improving feed and addressing feed loss have been a priority within our portfolio from Aqua-Spark’s inception, as it’s the greatest challenge for any fish farm,” Aqua-Spark cofounder Mike Velings said. “With CageEye, we’re able to support improvements in cage farm management, including how feed is distributed. Beyond this, we’re excited to see how their behavior assessment technology will impact other areas of farming as the company matures.”