Stavanger-based Remora Robotics has reeled in a substantial €2.5 million in a recent funding round led by Grieg Kapital and Momentum. The startup provides an innovative approach to fish farming by utilizing a proprietary autonomous submarine robot that effectively cleans, inspects, and gathers essential data from underwater cages, contributing to the progression of aquaculture practices with increased efficiency and environmental consideration. The newly acquired funds will be strategically directed towards the further development of Remora Robotics’ cutting-edge autonomous net cleaning technology.
“Remora Robotics has developed new and exciting technology for a global market. The company’s technology can contribute to making net cleaning more efficient, and improving fish health, which is important to be able to continue to develop the farming industry in a sustainable way. The investment fits our investment strategy well, with a focus on marine technology, and we see the technology and business model as future-oriented,” says Lars Jørgen Loktu, Investment Manager at Grieg Kapital.
“We have followed the market for automated and autonomous cleaning for some time and believe that the industry will embrace this type of technology. The solution can contribute to improving both growth, profitability and sustainability for fish farmers at the same time, and thus check all the the marks on our mandate. We believe the team at Remora Robotics has what it takes to succeed with commercial rollout at scale. We are also happy to make the investment together with a competent and relevant co-investor in Grieg Kapital, and look forward to contributing to developing the company further together with the employees and other owners,” says Christian Møgster Investment Manager at Momtentum.
Remora Robotics is an innovative player in robotic technology, and has developed an autonomous net cleaner for the aquaculture industry, that contributes to better fish health and sustainable development for the aquaculture industry. Remora combines advanced sensors to monitor and inspect the fish pens, while removing harmful growth. The information from sensor data in Remora will be able to help the fish farmers to compare and increase their understanding of the environment both in the pen, location and in the immediate region.
“The investment from Grieg Kapital and Momentum gives us the necessary room to maneuver in order to carry out our plans, and deliver on our service of always clean nets for our customers. The transaction also paves the way for a strengthening of the collaboration between us moving forward. With this capitalization, we can increase the speed of the roll out of our technology, giving us the opportunity to scale sales. We are bringing in two strong investors, both with a proven ability to drive forward successful companies through their methodical approach, and who have a good reputation for actively engaging in their investments,” says CEO of Remora Robotics, Brage C. Amundsen.
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