Biosort raises more than NOK 100m ($10m) to commercialise individual-based lice control system.
Biosort has secured more than NOK 100 million ($10 million) from a group of aquaculture and technology investors to support the commercialisation of its individual-based lice control system.
The financing round includes participation from Grieg Kapital, Hatch Blue, IVC, Farvatn and Futurum Ventures, alongside existing shareholders.
The capital will be used to complete final development and prepare for market introduction of Biosort’s next-generation lice control technology. The system is designed to continuously remove sea lice at an early stage, with the aim of preventing population build-up and reducing the need for full-pen treatments.
“This funding takes us from development into commercial sales. Our focus is simple: continuous lice removal to suppress lice development and greatly reduce needs for well-boat treatments. The goal is improved welfare, lower mortality, better biological control, and ultimately making fish thrive,” said CEO Geir Stang Hauge.
Founded in 2010, Biosort is best known for its development licence project iFarm and has built machine vision, artificial intelligence and FishID technology capable of identifying and tracking individual salmon. The company says its lice control system combines early removal with data collected on individual fish.
“We have followed Biosort for several years and are impressed by the team and their technology. Sea lice remain one of the greatest challenges in salmon farming, and Biosort’s approach has the potential to improve both lice management and fish health. We are excited to support the company as it moves into commercialisation,” said Stian Grieg, investment manager at Grieg Kapital.
Carsten Krome, managing partner at Hatch Blue, said the salmon industry is seeing a growing focus on fish health and increased adoption of new technology. He added that, through its Blue Revolution Fund, Hatch Blue invests in solutions aimed at improving health and sustainability in aquaculture, and believes Biosort is well positioned to contribute to the next phase of salmon farming.