Sea6 Energy, which is occupied with enormous scope and motorized ocean farming, on Wednesday said it has raised $9 million (Rs 67 crore) as a feature of its Series B funding round.
The funding was driven by Netherlands-put together investment store centered with respect to sustainable hydroponics, Aqua Spark, Sea6 Energy said in an explanation.
Singapore-based Silverstrand Capital likewise added to the funding round.
The new capital will assist the organization with increasing the stock of ocean growth crude material. It will likewise empower the organization to extend its processing limit with extra offices to deliver rural biostimulant and creature wellbeing items.
Bengaluru settled Sea6 Energy was established in 2010 at Indian Institute of Technology (IIT) Madras.
Its prime supporters Sailaja Nori, Nelson Vadassery and Sowmya Balendiran had just graduated with certifications in biotechnology then while Shrikumar Suryanarayan, the previous R&D head of Biocon, was an adjunct workforce at the IIT.
The organization utilizes its restrictive technologies to change over kelp into harmless to the ecosystem items for a scope of industries including agribusiness, creature wellbeing, food ingredients, bioplastics and inexhaustible synthetics. It has tasks in India and Indonesia.
Before this funding, Sea6 Energy had raised Series A funding from Tata Capital Innovation Fund in 2015.
Mike Velings and Amy Novogratz, fellow benefactors of Aqua-Spark, noted that investing in kelp creation had been a need for the investment firm since it dispatched in 2015 yet hadn’t happen upon an activity that was both economically practical and had the option to deliver at scale as of recently.
Sea6 Energy’s technology SeaCombine makes sustainably farming the ocean a chance while capturing CO2 and transforming it into significant items, the Aqua-Spark’s fellow benefactors added.
Water Spark has 195 million euros in resources under management. It is centered around investments in spaces of the hydroponics industry that will make fish farming sustainable.
In the acquaculture fragment in India, water ranchers’ network Aquaconnect raised $4 million (Rs 29.7 crore) in a pre-Series A round drove by Rebright Partners and Flourish Ventures recently.
