Feed-to-farm data platform provider raises $2.8m for expansion 

Canada and Singapore-based aquafeed data cruncher Wittaya Aqua has raised US $2.8 million (£2.15m) in a seed funding round.

The new capital will enable Wittaya Aqua to further develop its feed-to-farm platform and expand its reach into Asia Pacific, the largest aquaculture producing region globally. Currently the company is working with major aquafeed and integrated farming clients in more than 10 countries.

Wittaya Aqua says companies and organisations such as salmon farming heavyweight AquaChile, feed ingredients suppliers Corbion and Aker BioMarine, and the US Soybean Export Council have used its data platform to improve outcomes for aquafeed, ingredient supply and farms.

Digital ecosystem

“In the face of climate change, uncertain market dynamics, and evolving supply chains, ensuring the sustainable provision of seafood requires every stakeholder to adapt. But there is still a critical need to harness and transform the deep knowledge they each own into actionable strategies - and Wittaya Aqua is built to respond to this,” said chief executive and co-founder Evan Hall.

“We’re here to stand in this gap to lead the development of aquaculture’s evolving digital ecosystem, ensuring it’s an accurate and equitable playing field where farmers, feed mills, and ingredient suppliers can all grow together.”

The Wittaya Aqua platform consolidates existing data points across the seafood supply chain to drive greater profitability, sustainability and efficiency. In 2023, seafood amounting to over 1.64 billion meals was directly enabled by Wittaya’s aquaculture platform and it is on track to enable 3.3 billion meals in 2024. The company said farms using the platform have saved up to 20% on their cost of feeding.

Integrating data

The company says that although ingredients suppliers, feed producers, and fish farmers already collect their own data on details such as growth, feed intakes, efficiency of feed utilisation, survival, water temperature and other water quality parameters, everyone has their own unique set of data points formatted in different ways. 

Its platform integrates the different streams of information by farmers, feed mills and ingredient suppliers and consolidates it into one platform. With industry-wide and company-specific touchpoints, Wittaya Aqua is able to build accurate science-backed models to help stakeholders improve specific variables or functions. 

Wittaya Aqua’s platform also enables aquaculture stakeholders to meet rising consumer, retail, and regulatory expectations for a more transparent and improved value chain. The company says this aligns with the broader industry movement to align practices with the rigorous standards set out by certification bodies like Best Aquaculture Practices and the Aquaculture Stewardship Council.

Ground-truthed insights

Investors participating in the seed round for the company include The Yield Lab Asia Pacific, SEEDS Capital, Future Planet Capital, Conservation International Ventures and SeaAhead Blue Angels.

Larry Taylor, co-Founder of agtech venture capital firm Yield Lab Asia Pacific, said: “Only with Wittaya Aqua do all practitioners have access to ground-truthed insights that are calculated from the full range of data, from deep nutritional biology of each species through to commercial data of each market, on a global basis. By aggregating and analysing data across the value chain, their platform equips decision-makers at feed mills, farms, and ingredient suppliers with critical actionable insights tailored to their unique market challenges.”

Marianne Nergård, product director for krill harvester Aker BioMarine said: “Wittaya AquaOp Feed has enabled us to gain a deeper understanding and validation of the value QRILL Aqua has in the feed formulations in different parts of the world. With the software we are able to better estimate both the nutritional and the economic value of adding our raw materials into the diets, which is highly valuable in preparing product strategies and in our conversations with partners and customers.”