BioFishency Ltd., Israel, completed a $2.4 million investment round from Aqua-Spark, China, and The Trendlines Group, The Netherlands.
BioFishency is an aquaculture solutions provider of water treatment systems for use in land-based aquaculture in Israel, Congo, Bangladesh, India, Indonesia and China.
“BioFishency’s recent investment is extremely important and enables us to develop in a number of ways,” says Igal Magen, co-founder and co-CEO of BioFishency. “We have begun to set up a Chinese operation, following our success in selling to the Chinese market. China makes up 60% of the world market for our products. Having a Chinese entity places the company in the heart of its main market, which presents the potential for raising additional capital and receiving government support in China in the future. The funds will also enable us to continue our R&D to provide additional aquaculture solutions for the market.”
“We are excited for BioFishency to join our portfolio. They’re our first investment in filtration technology, and attracted our attention because of their commitment to sustainability and accessibility,” adds Mike Velings and Amy Novogratz, co-founders of Aqua-Spark. “The sheer size of inland aquaculture globally means that aquaculture uses a lot of scarce resources. Biofishency’s technology enables the production of more fish per unit on land and in water while reducing the environmental impacts. This is imperative in sustaining the growth of aquaculture while reducing environmental effects.”