Stavanger-based Remora Robotics, an innovative aquaculture robotics company announced it has raised €2.5 million in a fresh funding round. The investment was led by Grieg Kapital and Momentum, leading investment firms in the industry.
The infusion of capital will be strategically channeled by Remora Robotics to enhance its cutting-edge autonomous net cleaning technology. This development marks a crucial step in the company’s journey, poised to propel the evolution of its technology deployment and amplify its sales expansion initiatives.
Brage C. Amundsen, CEO of Remora Robotics, commented: “The backing from Grieg Kapital and Momentum affords us the essential flexibility to execute our plans and deliver impeccable net cleanliness for our valued customers. This capital injection enables us to expedite the deployment of our technology, empowering us to upscale our sales endeavors.”
Founded in 2015, Remora Robotics is at the forefront of automating fish farm pen cleaning processes. The cornerstone of its technology is an autonomous submarine robot, purpose-built to meticulously clean and assess fish farming enclosures while gathering pivotal data on the aquatic ecosystem.
Lars Jørgen Loktu, Investment Manager at Grieg Kapital, added: “Remora Robotics has forged innovative and enticing technology tailored for a global market. This investment aligns seamlessly with our investment strategy, focusing on maritime technology, and we perceive the technology-business model combination as forward-looking.”
Remora Robotics has cultivated strategic partnerships with esteemed research organizations in Norway, including SINTEF, the Norwegian Research Council, NTNU, and Innovation Norway. In 2017, the company conceived the notion of an autonomous marine variant of the robotic lawnmower to revolutionize net cleaning in aquafarms. Leveraging their proficiency in remotely operated vehicles (ROVs), Remora Robotics embarked on this transformative journey.
Christian Møgster, Investment Manager at Momentum, said: “We are confident in Remora Robotics’ team and their ability to achieve a successful large-scale commercial rollout.”
The initial prototype underwent scrutiny in 2018 but was abandoned due to inherent limitations. Undeterred, the company persevered in refining the technology and making substantial strides. By 2019, Remora Robotics successfully tested a functional prototype, subsequently validated by a comprehensive report from NORCE, confirming its efficacy in cleansing fish farming enclosures. This accomplishment culminated in the acquisition of a patent for the innovative belt mechanism.
Focusing on continuous improvement, the company diligently worked on an upgraded prototype in 2020. Collaborating with Sterling White Halibut AS, Remora Robotics subjected the technology to rigorous tests, optimizing it for practical implementation. The year 2021 marked a pivotal milestone for the company as it manufactured three specialized devices tailored for further comprehensive testing.
