ReelData AI, a Nova Scotia, Canada-based company that uses artificial intelligence to provide customized data and automation to land-based farmers, announced the completion of an $8 million Series A funding round.
The round was led by Buoyant Ventures, with participation from S2G Ventures and The Nest Family Office.
The fresh funds will be used to develop a precise and autonomous operating system to unlock the future of land-based aquaculture and the sustainability advancements it promises.
"Scaling the global land-based aquaculture industry is critical in both our fight against climate change and our ability to feed a growing population," said Mathew Zimola, co-founder and CEO of ReelData. "ReelData's farmer-first approach has informed our deep understanding of the pain points that our partners are facing when it comes to scalability. Our ability to solve those problems through the use of AI and automation is helping to push the boundaries of our industry's capabilities."
ReelData's first product on the market, ReelAppetite, identifies real-time population appetite and adjusts feed levels accordingly to maximize biomass while limiting waste. Its latest offering is ReelBiomass, the only biomass estimation camera system built from the ground up for RAS and flow-through systems.
Company: ReelData Inc.
Round: Series A
Funding Month: January 2023
Lead Investors: Buoyant Ventures
Additional Investors: S2G Ventures and The Nest Family Office
Company Website: https://www.reeldata.ai/
Software Category: Fish Farming AI
About the Company: ReelData is a venture-backed artificial intelligence company that is solving the sustainability issues around food production by supporting smolt, post-smolt, and on-growing land-based aquaculture facilities. ReelData now provides reliable, accurate monitoring, analysis, and optimized automation working with each farm 1-on-1 to increase operational efficiency, save costs, grow fish faster, and reduce risks. It currently works with some of the world's largest land-based fish farms to allow better efficiency, growth, and harm reduction of their farmed fish. The company has now built a team of 30+ employees, with clients of various sizes in multiple countries across the globe. ReelData rapidly scaling to help land-based aquaculture farms reach their full potential with AI-aided technologies. ReelData is consistently recognized as one of the most promising technology companies in Aquaculture. It is located in Halifax, Nova Scotia.