Umitron has obtained funding for strengthen the business foundation of their existing and new services, accelerate overseas business development for salmon and shrimp farming, and increase collaboration with their partners, in which they have significant investments to date. The company with presence in Singapore and Japan, raised around SGD 15 million (around USD 20 millions) in their pre-series B round.
The funding came from ENEOS Holdings, QB II Investment Limited Partnership, Toyo Seikan Group, and other commercial banks, by combining equity and debt finance. Combined with their Series A financing in 2018, Umitron has raised SGD 30 million (more than USD 40 millions).
One of the services that the company provides is Umitron Remora, an AI software service that can be installed in existing facilities at large-scale aquaculture farms without needing additional equipment. The process is simple – farmers install the software on the computer they use at the aquaculture site and connect it to the existing cameras installed in fish pens.
Umitron Remora also has unique edge AI technologies to perform appetite analysis utilizing the farm’s existing IT resources and does not require a stable communication environment or additional local servers. Furthermore, with Umitron Remora’s real-time feed monitoring and dead fish detection capabilities, farmers now have a powerful tool to optimize their feeding protocols and better manage their production performance. We have already introduced this service in most major salmon farming regions such as Northern Europe and South America and expect to expand the service in the future.
The first real-time AI analysis solution for shrimp farming
The other star product of the company is Umitron Eagle, the world’s first real-time AI analysis solution for shrimp farming. Despite undergoing significant growth, technological improvements have been limiting for shrimp producers, partly due to challenges overcoming poor water transparency and an increased focus on digital transformations in fish production.
However, Umitron has created a product to assess shrimp production conditions using customized AI algorithms to track real-time biological conditions and other factors in highly turbid and intensive production environments. These include but are not limited to real-time appetite analysis, health and growth conditions, and biomass. We are currently affiliated with Charoen Pokphant Foods (CPF), the world’s largest shrimp farmer, and will expand to Southeast Asia, India and China in the future.
Meanwhile, Umitron Pulse is a platform that utilizes satellite remote sensing technology to acquire global high-resolution oceanographic data for aquaculture applications. Parameters include seawater temperature, salinity, dissolved oxygen, chlorophyll concentration, wave height, winds, and currents.
Regardless of species, small changes in the marine environment can significantly impact producer operations such as feed amounts and timing, harvesting and logistics. In addition, major events such as harmful algal blooms can also cause mass mortalities or result in temporary farm closures due to health safety concerns if not detected early.
Umitron Pulse currently provides a 48-hour forecast, the latest available location data, and two years of historical data, which can be used for long-term planning and risk mitigation. The service is already being used in more than 20 countries worldwide, including some of Europe, Southeast Asia, the Americas, and Oceania. “We will continue to develop partnerships with global stakeholders with whom we can collaborate on big data analysis utilizing long-term data,” they say.
Multinational teams with diverse backgrounds in Singapore and Japan
In addition to strengthening its existing business, Umitron intends to enhance the global development of the services mentioned above with this financing. The company has already formed multinational teams with diverse backgrounds in Singapore and Japan. Furthermore, it will further accelerate the establishment of local subsidiaries and business development in key salmon production regions such as Northern Europe and Chile, and in Southeast Asia, a major market and production hub for shrimp farming.
Umitron is a Singapore and Japan-based deep tech company aiming to solve worldwide food and environmental problems by empowering aquaculture with technology to achieve a more sustainable footprint. Over the past few years, they have developed products exclusively for the industry using a combination of IoT, satellite remote sensing and AI technology.
“We are committed to achieving industry growth by improving the working environment and ensuring a safe and stable supply of marine resources with a strong focus on marine conservation and protection. Ultimately, we aim to realize our mission to ‘install Sustainable Aquaculture on Earth”, they assure.