Aqua-Spark backs smart feed system

A NORWEGIAN company developing state of the art feeding technology has won backing from Aqua-Spark, the aquaculture investment fund.
CageEye, already known for its echo sounder technology – which uses acoustic data and machine learning to measure and analyse biomass movements, is now focused on improving the salmon industry’s feeding practices with IoT technology, said Aqua-Spark in a press release.
The Dutch based investor, which has backed a number of cutting edge aquaculture innovations around the world, will help CageEye invest in R&D, grow its team and expand its customer support network.
CageEye has raised a total of €5.3 million in funding and grants since 2016, when it first offered its products for commercial use. The company has also secured a total of €2.5 million in funding for 2019.
Its latest technology delivers appetite controlled feeding which it says can substantially reduce the cost of feed waste and increase growth.
The system, developed in collaboration with the Norwegian Institute of Marine Research, uses acoustic data and advanced analytics to detect when the fish are hungry or full, and is a tool to improve feeding and growth while reducing waste.
Bendik S. Søvegjarto, CEO of CageEye, said: ‘Current market practice is to use optical underwater cameras, which cover a very limited field of view and lead to highly subjective decisions.
‘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.’
Mike Velings and Amy Novogratz, co-founders of Aqua-Spark, said: ‘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.
‘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.’
Already being used by some of the world’s leading salmon producers in Norway, CageEye plans to expand into new regions as well as other species.
Aqua-Spark has EUR 49.2 million dedicated to investments in the aquaculture industry that will make fish farming sustainable. The goal of the fund is to grow to EUR 1.5 billion by 2025.
Picture: Bendik S. Søvegjarto, CEO of CageEye