NSW tech startup Oceanfarmr, formerly known as SmartOysters, has raised $1.45 million in a bridging round.
Oceanfarmr is one of 23 impact tech startups receiving investment from Katapult VC and its accelerator program, selected from 1,900 applicants in 62 countries.
With the fresh capital, the aqua farming tech and financing startup can accelerate international growth.
Oceanfarmr enables farmers to accurately record their farm’s activity using GPS technology in what is described as the Google maps of the ocean.
The company also launched an alternative financing option called Farm to Buy in September, which raised more than $60 million in financing applications.
Founder and CEO Ewan McAsh said he was pleased to have been selected for the Catapult Accelerator 2022 program and to begin seeking new capital in 2023.
“Oceanfarmr was built to revolutionize the aquaculture industry and with this funding we can accelerate our mission. We are already looking ahead and will focus on building traction as we bridge to a Series A increase in the new year,” he said.
“Before developing the app, I used my memory, whiteboards, and spreadsheets—which weren’t fast, were prone to sometimes costly errors, and could be a chore at the end of the work day and week.
“Over the past few weeks I have had the opportunity to meet with our farmers in Australia, the US and Europe and hear first hand about the economic and environmental challenges they have faced over the past three years and how Oceanfarmr has enabled them to do this. what they are good at and eliminate those typical pain points that have been standard practice for years.”
The Catapult accelerator program is designed for high-impact ocean and climate technology companies, and over the next three months McAsh will focus on strengthening the company’s skills in impact, strategy, management and investor readiness.
Jonas Skattum Svegaarde, CEO of Katapult Ocean, said their mission is to build a world where thriving ocean and economic development can exist in harmony.
“We are delighted to have Oceanfarmr on board and we look forward to the journey ahead through the accelerator program and beyond,” he said.