Investors shell out €6.1m for clam farming expansion
Pioneering bivalve farmer Ocean Fresco today announced that it had raised €6.1 million in a Series B funding round co-led by the Dutch sustainable aquaculture fund Aqua-Spark and Semapa NEXT, the venture arm of the Semapa industrial conglomerate.
Oceano Fresco employs a dedicated group of scientists, fully committed to cutting-edge R&D and selective breeding programmes. It has built a state-of-the-art Biomarine Centre (including hatchery) and set up the world’s first open-sea clam farm off the coast of the Algarve, in Portugal.
It is now poised to ramp up its commercial efforts, starting with varieties of premium clam species native to Europe.
Threatened species
The company farms Venerupis Corrugata and Ruditapes Decussatus clams, both currently in decline and threatened by exotic and invasive species and illegal overfishing, but also highly sought-after.
It will use the new investment to grow its operations and build its first storage and packaging facilities. Initially, company expansion will focus on Spain and Portugal while laying the foundation for a global business.
Bernardo Ferreira de Carvalho, founder and chief executive of Oceano Fresco, said: “It’s very exciting to have such renowned, seasoned investors as Aqua-Spark and Semapa NEXT on board with Oceano Fresco. They share our vision for sustainable food and the importance of innovation to deliver it. We got this far thanks to our exceptional team. The future looks very bright indeed.”
‘Best-in-class example’
Mike Velings and Amy Novogratz, co-founders of Aqua-Spark, said: “We’re pleased to be among the investors leading Oceano Fresco’s Series B as we have been looking for the right bivalve operation to invest in since we launched. Oceano Fresco stood out to us as a best-in-class example of shellfish farming with the potential to scale and shift the industry towards more sustainability and transparency.”
Ricardo Pires, CEO at Semapa NEXT, said: "One of Semapa Next's strategic priorities is to invest in companies that are well positioned to address the sustainability imperative with scalable and economically viable solutions.
“Oceano Fresco is completely aligned with this vision as it is bringing clam production to the 21st century through a fully integrated, scalable, sustainable, and science-based approach.”
