Over 3 billion people worldwide rely on wild-caught and farmed seafood as their primary source of protein. Recently, global aquaculture production reached a new high, with 89% of all aquatic animal production going directly to human consumption. This trend reflects a continuous rise in the global consumption of aquatic foods. In response, startups in the aquaculture sector are employing AI technology to enhance production and sustainability.
One notable example is Wittaya Aqua, a Canada-based startup. Wittaya Aqua’s platform enables seafood farmers to consolidate data points across the supply chain, driving greater profitability, sustainability, and efficiency. The company recently raised $2.8 million in a seed round to further develop its feed-to-farm platform and expand into Asia, the largest aquaculture-producing region. Wittaya Aqua entered Singapore in 2023 as part of this expansion.
Co-founder and CEO of Wittaya Aqua, Evan Hall, emphasized the company’s global vision. “Asia is a key part of the equation. The region is the global leader in aquaculture production, contributing a significant portion of the world’s seafood,” Hall told TechCrunch. “While Southeast Asia boasts high production, there’s immense potential for further growth through data-driven practices.”
A few countries dominate the aquaculture sector:
- China
- Indonesia
- Vietnam
- Bangladesh
- South Korea
Wittaya Aqua’s platform employs AI and machine learning to enhance its science-based models, forecast animal growth through predictive analytics, and recommend optimal feed types and quantities based on real-time data and growth projections. The machine-learning algorithm analyzes historical data and environmental factors to suggest strategies for maximizing crop yields.
Hall, who is also a wildlife conservation photographer, and Dominique Bureau, a professor of animal nutrition and aquaculture at the University of Guelph, co-founded Wittaya Aqua in 2017. They identified the inefficiencies and challenges of siloed data in the industry. Hall recounted his experience as a fisheries biologist, where he faced the tedious task of copying field notes into Excel for data analysis.
Traditionally, aquaculture data has been fragmented and slow-moving, hindering the ability to make informed decisions. Wittaya Aqua addresses this issue by consolidating data from various points in the supply chain—farmers, feed mills, and ingredient suppliers—into a single centralized platform. According to Hall, transparency across the value chain provides data and insights to help users make better decisions at every level.
“The unified view allows us to build robust, science-based models that provide stakeholders with actionable insights,” Hall explained. “For instance, a farmer can see how their feed choices directly impact growth rates and compare their performance against industry benchmarks. Similarly, feed mills can analyze how their feeds perform on various farms, allowing them to refine feeding strategies for specific customer needs.”
Wittaya Aqua’s platform is utilized by a range of stakeholders, including:
- Ingredient Suppliers
- Feed Mills
- Farmers
The startup has secured several customers, including BioMar, De Heus, Uni-President, US Soybean Export Council, Soy Aquaculture Alliance, Temasek Lifesciences Laboratory, and AquaChile.
The global aquaculture market is projected to reach $355.6 billion by 2033, up from $299 billion in 2023, according to a report by Precedence Research.
Wittaya Aqua competes with other farm management solution providers such as:
- Fieldin
- Taranis
- eFishery
- Victory Farms
- Atarraya
- AquaEasy
What sets Wittaya apart is its combination of nutritional information with field performance. This allows the company to model the impacts of different feed ingredients on animal performance, which is unique. Additionally, Wittaya works with multiple species in various geographies, from mainstream commercial species like salmon, shrimp, tilapia, and pangasius to niche species like grouper and snapper, unlike most companies that focus on a single species and geography.
Wittaya Aqua plans to pursue a two-pronged approach to support financial stability for farmers. First, it aims to reduce perceived credit or insurance risks related to production mortality by offering robust data and insights. Second, it seeks to match its users with lenders and insurers who can provide customized financial products.
The company has a team of 16 staff members across Canada and Singapore.
| Country | Production Volume (Metric Tons) |
|---|---|
| China | 48.9 million |
| Indonesia | 16.6 million |
| Vietnam | 10.5 million |
| Bangladesh | 4.5 million |
| South Korea | 2.3 million |
Wittaya Aqua’s innovative approach to aquaculture, leveraging AI and data consolidation, aims to transform the industry by enhancing sustainability and efficiency, ultimately contributing to the growing demand for aquatic foods worldwide.
Featured Image courtesy of DALL-E by ChatGPT
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