Aquaticode, a group developing artificial intelligence systems to sort salmon according to gender and other traits at high speed, raised $6 million (€6 million) in its first round of external funding, the company said Tuesday.
It is launching its first two products in September, both capable of identifying gender in juvenile salmon through non-invasive methods.
"The fundraising round and the incoming sales revenue allow us to fulfill the market’s demand for our machines," said Stian Rognlid, Aquaticode’s CEO.
"This enables a transition from start-up to scale-up while maintaining a healthy balance between short-term operations and long-term R&D.”
The company is part of Nacre Capital, a venture capital firm whose portfolio also includes AI-based embryo-selection system Fairtility, which recently nabbed its own funding of $18.5 million (€18.5 million) from investors.
Among Aquaticode's advisors are former Cargill director Einar Wathne and former Biomar CEO Torben Svejgaard. Innocreative Capital also invested in Aquaticode.
Howard Morgan, a chairman of Nacre, has also been an early investor in LinkedIn, Uber and Square, according to Aquaticode.