XpertSea lands $10 million for AI-enabled aquaculture

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In Canada, XpertSea, a Canadian company which develops technologies to make aquaculture more profitable and sustainable, raised $10 million CAD in Series A financing.

By 2050, our planet will be home to 10 billion people, requiring a 70 percent increase in food production. The aquaculture industry supplies more than half the seafood consumed worldwide and is growing at 6 percent per year. But the use of outdated technologies like hand-counting of aquatic organisms results in financial losses, as aquaculture producers overspend by an average of 20 percent in feed alone, and seafood survival rates can be as low as 50 percent.

XpertSea solves this technology gap by using artificial intelligence and computer vision to count and size early-stage aquatic organisms such as shrimp larvae and live feed. The XperCount is a smart IoT device that connects to a portal where customers can access data and analytics from any device, anywhere.