AquiNovo raises $1.5m from Neovia

AquiNovo and Neovia collaborate to develop new technologies and meet aquaculture market expectations.

AquiNovo Ltd., a portfolio company of The Trendlines Group, announced Nov. 27 that it signed an agreement with Neovia for an aggregate investment of $1.5 million.

Aquaculture is a fast-growing market with increasing economic opportunities. The world's rising population, particularly in Africa, Asia and Latin America, and increasing standards of living are estimated to result in a 60% increase in the global production of animal proteins by 2040.

Aquaculture production, which currently represents 4% (41 million metric tons) of animal protein production worldwide, is expected to grow by 450% in the next two decades. Due to a high feed conversion rate, aquaculture is an effective system for protein production, in particular in emerging markets with limited purchasing power, the announcement said.

The aquaculture industry today needs sustainable solutions that provide higher yields with lower production costs and reduced exposure to risks associated with longer growth periods. Bearing this in mind, Neovia has defined "intensive aquaculture" as one of its five global priority innovation fields and has implemented a holistic approach in innovative solutions for aquaculture.

Similarly, AquiNovo's technology addresses this challenge by developing solutions to improve farmed fish development. The company offers a non-genetically modified, non-hormonal, easy-to-use solution that may be incorporated into fish feed to offer hatcheries and fish farms a shorter time to market and additional growth cycles within their existing infrastructure.

Founded in 2015, AquiNovo is based in Misgav, Israel.

AquiNovo chief executive officer Dr. Nissim Chen said, "We believe that AquiNovo's technology will make a real difference for fish farmers worldwide. The combination of fish yield enhancement, with reduced exposure to risks associated with longer growth periods, will significantly contribute to risk management and revenues for fish farmers. Neovia's investment affirms their confidence in the company, its vision and its achievements to date. We're excited to work with Neovia on the development of innovative solutions for the aquaculture market."

Neovia president Hubert de Roquefeuil added, "Intensive aquaculture ranks among our five major innovation fields, and we are very interested in collaborating with a recognized partner such as AquiNovo. Our strong position in the international aquaculture market, especially in tilapia, will deeply benefit from this differentiating and innovative technology."

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