Aquaculture tech startup Umitron snags US$2m funding for Peru project (The Business Times)

AQUACULTURE tech startup Umitron, together with its Peru partner Abaco and its subsidiary Piscis, has been approved for a US$2 million project funding to improve aquaculture productivity in Lake Titicaca, Peru.

IDB Lab, the Inter-American Development Bank Group’s (IDB) innovation laboratory, is funding the project with hopes of improving the local trout farming industry’s economic and environmental sustainability.

Umitron, which was founded in 2016 in Singapore and Japan, builds aquaculture data platforms that leverage the use of Internet of Things (IoT), artificial intelligence (AI) and satellite remote sensing.

Its partner Piscis is one of the largest trout farmers in Peru, and Umitron’s AI feeding technology has the potential to increase their worker safety, while also reducing overfeeding and the threat of harmful algae blooms.

Lake Titicaca farmers raise rainbow trout, a species of salmonid, which are a valuable aquaculture sector with worldwide production increasing ten-fold over the past thirty years. The local Peruvian industry is expected to grow from 100,000 tons in 2016 to 221,000 tons of production by 2030.

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The Business Times

14 December 2018

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