Bluefront buys fish farming software firm Naviaq

Aquaculture investor Bluefront Equity has bought a majority shareholding in Naviaq, which supplies software solutions that standardise, safeguard and streamline workflows for fish farmers as well as service and wellboat operators.

“We have effectively developed a tool that provides a full overview of operations, maintenance, assets, logistics, technical data, equipment, time-use, resources, competence and environmental data,” said Naviaq managing director Lisbeth Plassen.

Norway’s second largest salmon farmer, SalMar, and service companies Frøy and AQS are among those who already use Naviaq’s systems. They utilise both operations and maintenance systems as well as operation management systems for service vessels.

Demand will increase

“Naviaq has developed a fantastic software which contributes towards making the aquaculture industry more data-driven, efficient and sustainable,” said Bluefront Equity partner Simen Landmark in a press release.

“We believe that the demand for their solutions will increase considerably in the future. That is why we are investing in the company.”

“We look forward to cooperating with Bluefront to further develop Naviaq as a leading software company in the aquaculture industry,” said Naviaq chairman Ivar Strand.

Trondheim-based Naviaq expects revenue of NOK 11 million in 2022, almost a doubling from the previous year.

The company’s main geographical market is Norway, but it also serves customers in Iceland and is looking to expand internationally.

Bluefront’s other investments include majority holdings in ozone and oxygen specialist Redox, and oxygen and lighting specialist Bio Marine.