Aquabyte, a fish-farm monitoring startup developing a smart camera system and web dashboard raised $ 3.5M seed funding. The round was co-led by NEA and Costanoa Ventures. Princeton University and the US and Norwegian investors also participated in the round.
The startup, founded by Amit Mukherjee in 2017 and headquartered in San Francisco will use the proceeds to build a team of developers and to refine its machine learning software.
Aquabyte’s solution consists of a smart camera system and web dashboard that utilizes computer vision technology. The camera is installed on a fish farmer’s net pen, and real-time farm metrics can be accessed via the web dashboard. Underwater 3D cameras and gauge parameters of temperature and oxygen help track the critical data. Typical metrics that Aquabyte’s cameras and machine learning algorithms will track include lice count, biomass estimation, appetite detection, and feed calculations.
Global fish trade was expected to hit an all-time high, and expected to rise more than $ 150bn last year, according to The Financial Times. One of the major costs incurred in fish farming is that of the feed, hence the company aims to control the feed cost using machine learning algorithms. If successful, it will help farmers to save up to 20-30% of the feed cost. The company is set to expand operations to Norway as the fish farming market is bigger in the Nordic countries as compared to the United States.
Cog Systems, an IoT device security startup from Sydney raised a $ 3.5M Series A round from the Grok Ventures led by Co-founder of software firm Atlassian.
Cog Systems primarily provides device protection and secure communication via its D4 platform offering non-bypassable full disk encryption, nested VPNs, separation kernel protection, and isolated key store.
It also provides embedded software SDKs (software development kits). The startup is targeting enterprise and government customers as it recently named Immix Group as the distributor to US Local, State, and Federal government. Customers can use the technology to secure their voice, video, and call data using Cog System’s D4 encryption technology. Mobile, gateways and IoT devices are the main devices secured by Cog Systems.
The startup plans to use the funding proceeds to open a new office in San Francisco. It already operates offices in Sydney and Chicago. “By steering the security architecture from monolithic to modular, we have brought proactive security to governments and the enterprise without compromising the user experience,” said Cog Systems CEO Daniel Potts.