Aquaculture-Technology Company DELOS Raises Series A Funding The company will use the new funds to optimize production, scale deployments and integrate into the $300 billion above global seafood supply chain
By Teena Jose •
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DELOS, an aquaculture-tech company in Indonesia, has reached an undisclosed first close in a Series-A funding round led by Monk's Hill Ventures, a Southeast Asian venture capital firm. The company will use the new funds to optimize production, scale deployments and integrate into the >$300 billion global seafood supply chain.
As per an official release, the AquaHero product utilizes top-class data collection methods and a cutting-edge biological model to predict and mitigate harvest risk, a model that will be trained on hundreds of shrimp ponds within the DELOS ecosystem across Indonesia. That, combined with the necessary technology stack and operational expertise, has served to increase farm productivity for the Indonesian aquaculture industry.
"The Indonesian aquaculture sector has been in sore need of an upgrade for the past few decades. An outsized portion of farming decisions are still being made by gut-feel and appeals to tradition, instead of being driven by data and empirical farming practices. Indonesia's natural advantage as the world's biggest tropical maritime country gives it all the puzzle pieces it needs to be the world's biggest seafood producer. Improving our aquaculture industry's adoption of best-in-class technologies and practices would help us realize its true potential. This can be a highly strategic industry for Indonesia," says CEO, Guntur Mallarangeng.
To leverage the global integration, the company aims to ensure the traceability and sustainability of its supply chain. The company has, thereby, embedded sustainable practices into its operations, and will allow stakeholders visibility into its supply chain through its AquaHero and AquaLink platforms, added the statement.
"DELOS advances the use of data science and technology in the shrimp farming industry in Indonesia. DELOS vastly improves productivity of farms with reduced input costs, while enabling traceability and sustainability in the farming practices. We are pleased to partner with the DELOS team in transforming the strategically-important aquaculture industry - not just in Indonesia, but across Southeast Asia. This is a potentially highly impactful investment for us," said Kuo-Yi Lim, co-founder and managing partner, Monk's Hill Ventures.
