Scottish satellite monitoring startup with Mowi contract secures $3.7m in funding

by
Editorial staff

Satellite monitoring company’s total capital raised since its inception has reached $7.5 million.

Krucial, a tech startup headquartered in Scotland has raised over $3.7 million (€3.4 million) as part of its strategy to expand internationally.

The company has recently collaborated with Norwegian salmon-producing giant Mowi to continuously and accurately monitor key environmental parameters to benefit fish welfare.

Leading the investment round was the Scottish National Investment Bank. Other participants included the University of Strathclyde, Scottish Enterprise, and AzurX, a space and technology investor from Dubai.

The capital infusion is slated to bolster growth in Krucial’s principal markets, with aquaculture at the forefront.

Post this funding round, Krucial’s total capital raised since its inception has reached a substantial $7.5 million, succeeding its initial seed funding in 2021.

Co-founder and CEO Allan Cannon said: “This funding is a clear vote of confidence in Krucial’s cutting-edge solution – especially given wider macroeconomic conditions. The ambition, potential and performance of Krucial to this point has proven our value to investors, who are backing us to take the next steps towards digitising the planet.”

Newsletter