Vijayawada-based Internet of Things aquatech startup Eruvaka has raised an undisclosed amount of Series B funding led by Nutreco, a global leader in animal nutrition and aqua feed, and existing investor Omnivore.
With the funding, Nutreco takes a 25% stake in Eruvaka, thus entering into a commercial partnership to help scale Eruvaka globally.
Commenting on the fundraise, Sreeram Raavi, Founder and Managing Director, Eruvaka said, “I’m impressed by Nutreco’s depth of knowledge of shrimp farming and I look forward to working with the company on the joint development of further projects.”
Nutreco’s aquaculture division Skretting will work directly with Eruvaka to implement the latest in precision farming technology, initially in Latin America. The technology will be incorporated into AquaSim, Skretting’s suite of customised performance tools, to allow local shrimp farmers to remotely ensure accurate dosages of the right feed when their stock requires it, avoiding over- or under-feeding.
Nutreco will be represented on the board of Eruvaka by its Chief Innovation Officer, Viggo Halseth.
On the investment, Knut Nesse, CEO, Nutreco said, “I’m delighted that this investment enables us to bring our customers the very latest in smart technology. Eruvaka’s products perfectly complement our shrimp feed business and will help us further build scale across Latin America and Asia.”