Aqua-Spark

Aqua-Spark is an investment fund with a focus on sustainable aquaculture businesses around the world. The small-to-medium enterprises (SMEs) they invest in are working toward the production of safe, accessible aquatic life, such as fish, shellfish and plants, in ways that do not harm their oceans. Their investors value the fact that each investment aims to create triple impact—specifically, each investment is chosen for its potential to generate significant financial returns while also activating positive environmental and social outcomes. Aqua-Spark believes that committing to a long-term vision is the way to realize effective and lasting impact results. When it comes to investments, they do not seek quick exits; instead, they look for entrepreneurs who strive to build and scale toward the future, who see their business as major economic opportunities that can also help solve looming environmental and food security challenges over the long-term. As an essential of each investee, Aqua-Spark seeks sustainability.

Thomas Giehm

Investment Manager

41 past transactions

Ace Aquatec

Venture Round in 2025
Ace Aquatec is specialises in acoustic marine mammal deterrents and humane electrical fish stunning equipment. Our markets are aquaculture, off-shore construction / demolition and fishermen. The US3 is the latest model of acoustic deterrent for the fish farming industry offering data logging, high and low frequency transducers, and sonar triggering. The MMD is offered to the long line fishermen, to offshore platforms engaged in pile driving and government organisations engaged in post oil spillage response. The sophisticated electronics drives marine wildlife to a zone of safety.

Oceano Fresco

Venture Round in 2024
Oceano Fresco develops and produces bivalves varieties with superior performance for shellfish farmers at a competitive cost, respecting environmental sustainability and ensuring consumer safety. They use a multi-disciplinary approach including expertise in molecular biology, genetics, animal physiology, computational biology and intellectual property to select value adding traits to shellfish farmers and contribute to the sustainability and profitability of the aquaculture industry. They work with hatcheries, nurseries and research centers in order to test and validate their solutions and ensure that they suit the specific needs of each customer, in each technical and environmental context.

Kuehnle Agrosystems

Series A in 2024
Kuehnle Agrosystems, Inc. is a biotechnology company based in Honolulu, Hawaii, that specializes in the development and production of specialty chemicals and raw materials derived from microalgae. The company focuses on creating products for various applications, including personal care items such as cosmetics, skincare, and dietary supplements, as well as agricultural and aquaculture uses, which encompass feed additives, crop protectants, and quality control solutions. Kuehnle Agrosystems serves multinational corporations, leveraging its expertise in plant-based systems to produce biologically active compounds. Established in 2007, the company aims to innovate within the biotechnology sector.

Aquarech

Seed Round in 2023
AquaRech includes Farm management that enhances fish production, enables access to the market & promotes equal trade.

Ace Aquatec

Venture Round in 2023
Ace Aquatec is specialises in acoustic marine mammal deterrents and humane electrical fish stunning equipment. Our markets are aquaculture, off-shore construction / demolition and fishermen. The US3 is the latest model of acoustic deterrent for the fish farming industry offering data logging, high and low frequency transducers, and sonar triggering. The MMD is offered to the long line fishermen, to offshore platforms engaged in pile driving and government organisations engaged in post oil spillage response. The sophisticated electronics drives marine wildlife to a zone of safety.

Tepbac

Seed Round in 2023
Tepbac aims to shake up Vietnam’s aquaculture industry with a comprehensive suite of software and hardware solutions.

Enifer

Series A in 2023
Enifer is a mycoprotein company focused on producing sustainable protein products through fungal fermentation. The company utilizes fish by-products as raw materials to create single-cell protein, which can serve as an environmentally friendly alternative to soy in fish feed. This innovative approach addresses ecological challenges associated with soy cultivation, such as deforestation in South America, while promoting a circular economy by transforming underutilized agricultural byproducts into valuable, nutritious feed. Enifer's products aim to enhance sustainability in fish farming and contribute to more responsible resource management in the agrifood industry.

Sea6 Energy

Series B in 2022
Sea6 Energy is a biofuel company based in Bangalore, India, that aims to harness the sustainable potential of ocean resources. Founded in 2010, the company focuses on developing technologies to convert marine biomass, particularly seaweed, into a range of bio-renewable products. These include biofuels, plant growth stimulants, plant defense products, and animal feed ingredients. By utilizing oceanic resources, Sea6 Energy provides solutions that address the limitations of traditional agricultural feedstock, such as land use and freshwater requirements. The company's innovative approach seeks to create a circular economy by minimizing waste and replacing chemicals and plastics with sustainable alternatives derived from marine biomass. The diverse expertise of its team spans industrial automation, plant pathology, ocean engineering, bioprocess engineering, marine biology, and aerospace engineering, all contributing to the vision of transforming oceans into productive biomass farms.

Kuehnle Agrosystems

Venture Round in 2022
Kuehnle Agrosystems, Inc. is a biotechnology company based in Honolulu, Hawaii, that specializes in the development and production of specialty chemicals and raw materials derived from microalgae. The company focuses on creating products for various applications, including personal care items such as cosmetics, skincare, and dietary supplements, as well as agricultural and aquaculture uses, which encompass feed additives, crop protectants, and quality control solutions. Kuehnle Agrosystems serves multinational corporations, leveraging its expertise in plant-based systems to produce biologically active compounds. Established in 2007, the company aims to innovate within the biotechnology sector.

Protix

Private Equity Round in 2022
Protix is an industrial-scale producer of insect proteins and lipids, focusing on providing sustainable and organic alternatives for animal feed. By utilizing a variety of food scraps, including those from meat, fish, and dairy products, the company cultivates high-quality proteins that contribute to a more balanced food system. Protix aims to support the transition toward sustainable agriculture by offering low-impact protein options enriched with essential micro-nutrients, thereby addressing the growing demand for environmentally friendly feed solutions.

eFishery

Series C in 2022
eFishery is an aquaculture technology startup that focuses on providing innovative solutions for fish and shrimp farmers. The company develops smart feeding systems equipped with motion sensors to assess fish appetite and optimize feed amounts, thereby enhancing productivity and sustainability in aquaculture. Additionally, eFishery offers a cloud-based dashboard and data platform that supports farmers in managing their operations effectively. By integrating services such as farming operations, financing, and distribution, eFishery addresses key challenges in the aquaculture industry, aiming to reduce social and economic inequalities while promoting a more sustainable and equitable environment for fish and shrimp farming.

Ecto

Series A in 2021
Ecto specializes in technology that merges data and biology to enhance the efficiency and sustainability of the aquaculture industry. By collaborating with farmers, Ecto streamlines production and health management through advanced molecular tools and digital technologies. Their innovative solutions have helped farmers generate over 51 million additional healthy servings of protein. The company operates offices in Boston, Atlanta, and Stavanger, Norway, serving a global customer base. Founded in 2013 at Harvard Innovation Labs by Dmitry Kozachenok and James Webb, Ecto has secured competitive research grants from prominent organizations such as the US National Science Foundation, the US Department of Agriculture, and Innovation Norway. Their farm management platform simplifies data recording and offers real-time insights, enabling farmers to monitor operations effectively, detect diseases, and manage production cycles in challenging environments.

Calysta

Series D in 2021
Calysta, Inc. is a biotechnology company specializing in the development and manufacturing of sustainable protein ingredients derived from innovative sources. The company focuses on producing nutritional feeds and health products for fish and livestock, while also supplying chemicals for various applications, including fibers, plastics, and biofuels. Utilizing a patented fermentation platform powered by renewable energy, Calysta creates protein products such as FeedKind and Positive Protein, which address the increasing global demand for sustainably produced food. With a commitment to food security, the company aims to enhance biodiversity and improve the interconnection between water, energy, and food systems. Founded in 2011 and headquartered in Menlo Park, California, Calysta has additional locations in Houston, Texas; London, United Kingdom; Stavanger, Norway; and Singapore.

xpertSea

Series B in 2021
XpertSea is a Canadian technology company focused on transforming the global aquaculture industry through innovative solutions. By integrating smart aquaculture equipment with a comprehensive farm management platform, XpertSea utilizes artificial intelligence, computer vision, and machine learning to provide actionable insights that improve feed efficiency, reduce environmental waste, and enhance disease prevention. This data-driven approach not only brings transparency to the supply chain but also empowers hatcheries, farms, and research centers to effectively manage aquatic populations with speed and accuracy. Operating a marketplace that connects shrimp buyers and farmers, XpertSea facilitates efficient and secure transactions while enabling clients to access faster financing and healthier shrimp. With a customer base spanning over 50 countries, XpertSea aims to make aquaculture both profitable and sustainable.

Proteon Pharmaceuticals

Venture Round in 2021
Proteon Pharmaceuticals Ltd. is a company based in Lodz, Poland, focused on developing bacteriophage-based products aimed at enhancing animal and human health while promoting environmental sustainability. Established in 2005, Proteon leverages precision biology to create solutions that mitigate the reliance on antibiotics and address the challenges of antimicrobial resistance. The company offers a range of services, including high-throughput screening (HTS) and high-content screening (HCS) tests to identify new active substances with specific immunomodulatory properties. Additionally, Proteon provides contract services for pharmaceutical companies to explore various chemical libraries. Its product pipeline includes solutions designed to improve performance and food safety in poultry, as well as to prevent economically significant bacterial diseases in aquaculture and dairy farming.

Proteon Therapeutics

Post in 2021
Proteon Therapeutics, Inc. is a biopharmaceutical company focused on developing innovative therapies for patients with renal and vascular diseases. Based in Waltham, Massachusetts, the company was founded in 2001 and has a strong emphasis on addressing the medical needs of these patient populations. Its lead product candidate, vonapanitase, is designed to improve hemodialysis vascular access outcomes and has completed Phase II and Phase III clinical trials for patients with chronic kidney disease. Additionally, the company is exploring vonapanitase in a Phase I clinical trial targeting peripheral artery disease. Proteon Therapeutics leverages a unique understanding of tissue remodeling to advance its pipeline of proprietary therapeutics, including another candidate aimed at enhancing blood flow following vascular surgery procedures.

Sea6 Energy

Series B in 2021
Sea6 Energy is a biofuel company based in Bangalore, India, that aims to harness the sustainable potential of ocean resources. Founded in 2010, the company focuses on developing technologies to convert marine biomass, particularly seaweed, into a range of bio-renewable products. These include biofuels, plant growth stimulants, plant defense products, and animal feed ingredients. By utilizing oceanic resources, Sea6 Energy provides solutions that address the limitations of traditional agricultural feedstock, such as land use and freshwater requirements. The company's innovative approach seeks to create a circular economy by minimizing waste and replacing chemicals and plastics with sustainable alternatives derived from marine biomass. The diverse expertise of its team spans industrial automation, plant pathology, ocean engineering, bioprocess engineering, marine biology, and aerospace engineering, all contributing to the vision of transforming oceans into productive biomass farms.

Ecto

Venture Round in 2021
Ecto specializes in technology that merges data and biology to enhance the efficiency and sustainability of the aquaculture industry. By collaborating with farmers, Ecto streamlines production and health management through advanced molecular tools and digital technologies. Their innovative solutions have helped farmers generate over 51 million additional healthy servings of protein. The company operates offices in Boston, Atlanta, and Stavanger, Norway, serving a global customer base. Founded in 2013 at Harvard Innovation Labs by Dmitry Kozachenok and James Webb, Ecto has secured competitive research grants from prominent organizations such as the US National Science Foundation, the US Department of Agriculture, and Innovation Norway. Their farm management platform simplifies data recording and offers real-time insights, enabling farmers to monitor operations effectively, detect diseases, and manage production cycles in challenging environments.

Protix

Venture Round in 2021
Protix is an industrial-scale producer of insect proteins and lipids, focusing on providing sustainable and organic alternatives for animal feed. By utilizing a variety of food scraps, including those from meat, fish, and dairy products, the company cultivates high-quality proteins that contribute to a more balanced food system. Protix aims to support the transition toward sustainable agriculture by offering low-impact protein options enriched with essential micro-nutrients, thereby addressing the growing demand for environmentally friendly feed solutions.

eFishery

Series B in 2020
eFishery is an aquaculture technology startup that focuses on providing innovative solutions for fish and shrimp farmers. The company develops smart feeding systems equipped with motion sensors to assess fish appetite and optimize feed amounts, thereby enhancing productivity and sustainability in aquaculture. Additionally, eFishery offers a cloud-based dashboard and data platform that supports farmers in managing their operations effectively. By integrating services such as farming operations, financing, and distribution, eFishery addresses key challenges in the aquaculture industry, aiming to reduce social and economic inequalities while promoting a more sustainable and equitable environment for fish and shrimp farming.

Swedish Algae Factory

Venture Round in 2020
Swedish Algae Factory AB, established in 2014 and located in Gothenburg, Sweden, specializes in algae cultivation and wastewater treatment systems. The company focuses on extracting nanoporous silica from silicon algae, a material that enhances the efficiency of solar panels by trapping visible light and blocking UV light. Laboratory tests have shown promising results in improving solar panel performance. Additionally, the nanoporous material has applications beyond energy, including use in skincare products for moisturizing, cleaning, and UV protection, thanks to its ability to absorb and release particles based on environmental conditions.

Ace Aquatec

Venture Round in 2019
Ace Aquatec is specialises in acoustic marine mammal deterrents and humane electrical fish stunning equipment. Our markets are aquaculture, off-shore construction / demolition and fishermen. The US3 is the latest model of acoustic deterrent for the fish farming industry offering data logging, high and low frequency transducers, and sonar triggering. The MMD is offered to the long line fishermen, to offshore platforms engaged in pile driving and government organisations engaged in post oil spillage response. The sophisticated electronics drives marine wildlife to a zone of safety.

Calysta

Series E in 2019
Calysta, Inc. is a biotechnology company specializing in the development and manufacturing of sustainable protein ingredients derived from innovative sources. The company focuses on producing nutritional feeds and health products for fish and livestock, while also supplying chemicals for various applications, including fibers, plastics, and biofuels. Utilizing a patented fermentation platform powered by renewable energy, Calysta creates protein products such as FeedKind and Positive Protein, which address the increasing global demand for sustainably produced food. With a commitment to food security, the company aims to enhance biodiversity and improve the interconnection between water, energy, and food systems. Founded in 2011 and headquartered in Menlo Park, California, Calysta has additional locations in Houston, Texas; London, United Kingdom; Stavanger, Norway; and Singapore.

Molofeed

Venture Round in 2019
Molofeed (formerly MiniPro) is a Norwegian developer of larval feed for finfish and shrimp based on proprietary, micro-encapsulation technology. The company aims to solve an industry-specific issue of live feed production for fishes- besides being an expensive process, live feed supply is often limited, and adding to the problem is the fact that fish larvae aren’t able to digest nutrients in artificial feed.

BioFishency

Venture Round in 2019
BioFishency Ltd. is an Israeli company that specializes in providing a plug-and-play water treatment system for land-based aquaculture. Founded in 2013 and based in Misgav, the company has developed a cost-effective, all-in-one solution that operates with various aquaculture methods, including extensive, intensive, and recirculated systems. BioFishency's technology addresses key challenges in aquaculture, such as limited water availability and the buildup of toxic ammonia, which can hinder fish growth and survival. By enhancing water conditions, the system allows fish farms to significantly increase production—potentially doubling or tripling yields—while utilizing existing infrastructure. This innovative approach not only boosts profitability for fish farmers but also promotes sustainability by minimizing ecological impact and reducing resource expenditures.

eFishery

Series A in 2018
eFishery is an aquaculture technology startup that focuses on providing innovative solutions for fish and shrimp farmers. The company develops smart feeding systems equipped with motion sensors to assess fish appetite and optimize feed amounts, thereby enhancing productivity and sustainability in aquaculture. Additionally, eFishery offers a cloud-based dashboard and data platform that supports farmers in managing their operations effectively. By integrating services such as farming operations, financing, and distribution, eFishery addresses key challenges in the aquaculture industry, aiming to reduce social and economic inequalities while promoting a more sustainable and equitable environment for fish and shrimp farming.

CageEye

Venture Round in 2018
CageEye is an agricultural technology company specializing in hydroacoustic monitoring tools designed for the aquaculture industry. With over a decade of experience, CageEye focuses on providing advanced instrumentation and analysis tools that offer real-time and historical data on fish feeding behavior, specifically targeting salmon farming. By leveraging hydroacoustic technology, the company enables farmers to optimize seafood production sustainably, enhancing fish welfare and reducing feed waste. Their comprehensive approach combines technology, scientific data, and expert insights to create healthy environments for aquatic species, ultimately leading to improved growth and responsible seafood production practices.

xpertSea

Series A in 2018
XpertSea is a Canadian technology company focused on transforming the global aquaculture industry through innovative solutions. By integrating smart aquaculture equipment with a comprehensive farm management platform, XpertSea utilizes artificial intelligence, computer vision, and machine learning to provide actionable insights that improve feed efficiency, reduce environmental waste, and enhance disease prevention. This data-driven approach not only brings transparency to the supply chain but also empowers hatcheries, farms, and research centers to effectively manage aquatic populations with speed and accuracy. Operating a marketplace that connects shrimp buyers and farmers, XpertSea facilitates efficient and secure transactions while enabling clients to access faster financing and healthier shrimp. With a customer base spanning over 50 countries, XpertSea aims to make aquaculture both profitable and sustainable.

Hatch Blue

Venture Round in 2018
Hatch Blue is an aquaculture accelerator supporting start-ups in the fields of aquaculture feed, health, genetics, tech and production.

Proteon Pharmaceuticals

Venture Round in 2017
Proteon Pharmaceuticals Ltd. is a company based in Lodz, Poland, focused on developing bacteriophage-based products aimed at enhancing animal and human health while promoting environmental sustainability. Established in 2005, Proteon leverages precision biology to create solutions that mitigate the reliance on antibiotics and address the challenges of antimicrobial resistance. The company offers a range of services, including high-throughput screening (HTS) and high-content screening (HCS) tests to identify new active substances with specific immunomodulatory properties. Additionally, Proteon provides contract services for pharmaceutical companies to explore various chemical libraries. Its product pipeline includes solutions designed to improve performance and food safety in poultry, as well as to prevent economically significant bacterial diseases in aquaculture and dairy farming.

Ecto

Venture Round in 2017
Ecto specializes in technology that merges data and biology to enhance the efficiency and sustainability of the aquaculture industry. By collaborating with farmers, Ecto streamlines production and health management through advanced molecular tools and digital technologies. Their innovative solutions have helped farmers generate over 51 million additional healthy servings of protein. The company operates offices in Boston, Atlanta, and Stavanger, Norway, serving a global customer base. Founded in 2013 at Harvard Innovation Labs by Dmitry Kozachenok and James Webb, Ecto has secured competitive research grants from prominent organizations such as the US National Science Foundation, the US Department of Agriculture, and Innovation Norway. Their farm management platform simplifies data recording and offers real-time insights, enabling farmers to monitor operations effectively, detect diseases, and manage production cycles in challenging environments.

Protix

Venture Round in 2017
Protix is an industrial-scale producer of insect proteins and lipids, focusing on providing sustainable and organic alternatives for animal feed. By utilizing a variety of food scraps, including those from meat, fish, and dairy products, the company cultivates high-quality proteins that contribute to a more balanced food system. Protix aims to support the transition toward sustainable agriculture by offering low-impact protein options enriched with essential micro-nutrients, thereby addressing the growing demand for environmentally friendly feed solutions.

Calysta

Series D in 2017
Calysta, Inc. is a biotechnology company specializing in the development and manufacturing of sustainable protein ingredients derived from innovative sources. The company focuses on producing nutritional feeds and health products for fish and livestock, while also supplying chemicals for various applications, including fibers, plastics, and biofuels. Utilizing a patented fermentation platform powered by renewable energy, Calysta creates protein products such as FeedKind and Positive Protein, which address the increasing global demand for sustainably produced food. With a commitment to food security, the company aims to enhance biodiversity and improve the interconnection between water, energy, and food systems. Founded in 2011 and headquartered in Menlo Park, California, Calysta has additional locations in Houston, Texas; London, United Kingdom; Stavanger, Norway; and Singapore.

Love The Wild

Series A in 2017
Love The Wild creates exciting dinner solutions that are not only delicious, nutritious, and ecologically responsible. It sells an easy frozen kit of sustainable fish and bold sauce in the grocery store. Its customers are fish lovers who don’t always have time to cook from scratch or anyone who has been afraid to try cooking fish at home. They believe they can make a difference just by making dinner. It aims to make life better for oceans and people by taking the intimidation and risk out of exceptional fish dinners. As leaders in the aquaculture movement, they partner with and support farmers we trust to source only the highest quality sustainable fish, freeze it fresh, then pair it with vibrant ingredients from cuisines around the globe.

Indian Ocean Trepang

Venture Round in 2016
Indian Ocean Trepang specializes in the sustainable farming, processing, and global distribution of dried sea cucumbers. By subcontracting production to low-income fishermen, the company not only provides them access to a lucrative market but also supports local fishing communities. Its innovative approach focuses on environmentally-friendly practices, allowing sea cucumber farming to be conducted at sea rather than in costly facilities. This model not only enhances the economic stability of participating fishermen but also contributes to the preservation of sea cucumber species, helping to prevent their endangerment. As a result, Indian Ocean Trepang offers consumers worldwide a delicacy that is both environmentally sustainable and economically beneficial for local communities.

Matorka

Venture Round in 2016
Matorka is a leader in the production of sustainable seafood, focusing on land-based farming of salmonids to meet global demand for high Omega-3 content fish. The company's operations are powered by clean geothermal energy, ensuring environmentally friendly practices throughout the farming process. Unlike traditional cage farming, which often relies on chemicals and antibiotics, Matorka employs a sustainable approach that avoids the use of these substances, maintaining a carbon-neutral status. Their fish are fed a specially formulated diet without growth hormones or genetic modification, aimed at producing the healthiest fish possible. With production facilities in Iceland and headquarters in Switzerland, Matorka is committed to setting a standard in the aquaculture industry for sustainable practices, contributing to the reduction of ocean acidification and global warming.

Sogn Aqua AS

Venture Round in 2016
Sogn Aqua AS produces halibut.

eFishery

Seed Round in 2015
eFishery is an aquaculture technology startup that focuses on providing innovative solutions for fish and shrimp farmers. The company develops smart feeding systems equipped with motion sensors to assess fish appetite and optimize feed amounts, thereby enhancing productivity and sustainability in aquaculture. Additionally, eFishery offers a cloud-based dashboard and data platform that supports farmers in managing their operations effectively. By integrating services such as farming operations, financing, and distribution, eFishery addresses key challenges in the aquaculture industry, aiming to reduce social and economic inequalities while promoting a more sustainable and equitable environment for fish and shrimp farming.

Chicoa Fish Farm

Venture Round in 2015
Chicoa Fish Farm, founded in 2017 and based in Maputo, Mozambique, specializes in the production and supply of tilapia fish. The company aims to support the aquaculture industry by providing a sustainable and vertically integrated solution. It focuses on offshore breeding, meticulous genetic selection, and sustainable husbandry practices to produce a nutritious protein source. By emphasizing low feed conversion ratios, Chicoa Fish Farm enables small-scale farmers to engage in cost-efficient and environmentally friendly fish production while maintaining a low carbon footprint.

eFishery

Seed Round in 2014
eFishery is an aquaculture technology startup that focuses on providing innovative solutions for fish and shrimp farmers. The company develops smart feeding systems equipped with motion sensors to assess fish appetite and optimize feed amounts, thereby enhancing productivity and sustainability in aquaculture. Additionally, eFishery offers a cloud-based dashboard and data platform that supports farmers in managing their operations effectively. By integrating services such as farming operations, financing, and distribution, eFishery addresses key challenges in the aquaculture industry, aiming to reduce social and economic inequalities while promoting a more sustainable and equitable environment for fish and shrimp farming.
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