Aquabyte joins forces with Vitruvian Partners
This move will drive the next phase of our growth and enable us to further establish Aquabyte and our AI-powered monitoring technology as the leading solution for fish farmers in all key regions globally – including Norway, Chile, Iceland, the Faroe Islands, Canada and Scotland.
During the last couple of years, we have experienced a strong organic growth and commercial momentum. This has been driven by our category-leading technology and reinforced by structural global tailwinds. The shift toward data-driven aquaculture continues to accelerate as farmers around the globe work to meet growing demand for sustainable protein, while addressing biological challenges and navigating tightening regulatory standards.
“Our mission is to transform aquaculture by materially improving fish welfare, productivity and sustainability through the use of artificial intelligence and machine learning,” says our CEO Steve Tucker, continuing:
“I am incredibly proud of the Aquabyte team and what we have built together, our progress to date is a direct result of their dedication, innovation and commitment to our customers. We have had the privilege of having a group of highly supportive shareholders along the way, and Vitruvian is an ideal partner for this next phase of our journey given their local Nordic presence, deep experience in scaling category-leading technology companies and long-term partnership mindset.”
Jussi Wuoristo, Partner at Vitruvian Partners, adds:
“Aquabyte has built an exceptional platform addressing important challenges in global food production. We have been deeply impressed by the team, the sophistication of the technology and the value Aquabyte is delivering to many of the world’s leading salmon farmers. We are excited to support the Company’s continued innovation.”
This is Vitruvian Partners:
Vitruvian Partners is a global growth-focused investment firm with ten offices in Europe, the US and Asia. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries. Vitruvian has over $20 billion of active funds which have backed many globalmarket leaders and innovators in their sectors, including, Skyscanner, Wise, CFC, Darktrace and Bitdefender.
Vitruvian has a strong presence in the Nordics with an established office in Stockholm and a track record of seventeen investments across this region, including Accountor, Arrive (fkaEasyPark), Aspia, Aquabyte, Benify, CRF Health, Enfuce, Just Eat, Outpost24, and Scrive.
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