Halifax, Nova Scotia-based ReelData, a developer of artificial intelligence-enabled software for land-based aquaculture, has raised C$2.5 million in seed-stage financing. The round was led by S2G Ventures’ Ocean and Seafood Fund.
April 20, 2021
ReelData A.I. is happy to announce that we have partnered with S2G Ventures’ Ocean and Seafood Fund on a $2.5 million seed investment.
As the world continues to evolve and the global population nears 8 billion, it is clear that the protein we eat must be sustainable. Land-based aquaculture represents what we, at ReelData, believe to be one of the best routes to feeding society in a sustainable and delicious way. Fish are extremely efficient to produce as they convert approximately 1.1 kg of feed into 1 kg of body weight, significantly less than the market alternatives of chicken or beef. Transitioning fish farming on land protects against risks associated with ocean-based fish farming such as contamination, parasites, and escapes while enabling the freedom to select farm locations, resulting in decreased transportation distances. ReelData is committed to assisting this burgeoning industry’s success by increasing its efficiency, sustainability and profitability.
Over the last two years, ReelData has developed a pioneering artificial intelligent feeding software specifically designed for land-based aquaculture. The ReelData AI understands real-time feed spill in each tank and adjusts feeding systems to administer the optimal amount of feed. ReelData is currently working with several leading land-based fish farms including the world’s largest – Atlantic Sapphire.
ReelData’s Automated Feeding System is solving one of the biggest business and sustainability problems facing land-based aquaculture. Inaccurate feeding leads to wasteful overfeeding and growth-inhibiting underfeeding, both of which are costly and produce health risks by altering water quality.
“S2G Ventures is the ideal partner for ReelData” said CEO Mathew Zimola, “their team brings a wealth of field-specific knowledge and experience that will assist us in achieving our ambitious goals.”
ReelData will use this money to scale their A.I. feeding software across the land-based industry, continue the development of their land-based biomass estimation camera, and build a predictive health analytics platform. Additionally, to be closer to some of their current and future clients, ReelData plans to open an office based in Europe. Financing will build out technology and support the farmers and industry ReelData wholeheartedly believes in.
Now that we have taken a moment to reflect, let’s get to work!
To learn more about ReelData please check out: reeldata.ai
About S2G Venture –
S2G Ventures is a multi-stage venture fund investing across the food, agriculture, oceans and seafood markets. The fund’s mission is to catalyze innovation to meet consumer demands for healthy and sustainable food systems. S2G has identified sectors across the food system that are ripe for change, and is building a multi-stage portfolio including seed, venture and growth stage investments. Core areas of interest for S2G are agriculture, oceans, ingredients, infrastructure and logistics, IT and hardware, food safety and technology, retail and restaurants, and consumer brands.
ReelData is a Canadian-based artificial intelligence company that aims to help solve the world’s sustainability issues around food production by furthering land-based aquaculture. We currently work with some of the worlds largest land-based fish farms to allow better efficiency, growth, and harm reduction of their farmed fish.