Tidepool (CEO Lee Jun-ho), an artificial intelligence (AI) technology startup in the fisheries and aquaculture sector, announced that it has been selected for the Ministry of SMEs and Startups' (MSS) 'Scale-up TIPS' program.
Scale-Up TIPS is a technology startup support program where private investors and specialized research and development (R&D) organizations preemptively invest in promising companies, with the government providing additional matching R&D funding. Tidepool has proven its technological prowess and growth potential by being selected for the Scale-Up TIPS program this year, following its initial TIPS selection last year. This selection will see the company receive approximately 1.2 billion won in R&D funding over the next three years.
Tidepool operates "FISHSCOPE," an AI-based aquaculture productivity optimization solution, and "FISHFATHER," a high-quality seafood distribution brand. It is recognized for its contribution to aquaculture productivity and supply chain stability by incorporating AI technology into primary industries, where technology adoption has been relatively slow.
With this government support, Tidepool plans to enhance its aquaculture product shortage prediction system, computer vision-based fry counter, and AI-based shipment prediction model. The strategy is to improve the accuracy of seafood supply and demand forecasts and enhance efficiency across the industry.
Lee Jun-ho, CEO of Tidepool, said, “This selection as a scale-up tip will allow us to accelerate the commercialization of our technology,” and added, “We will lead the smartening of the domestic aquaculture industry by expanding the contact points between AI technology and industrial sites.”
Meanwhile, Tidepool secured approximately 1.5 billion won in pre-A funding from Futureplay and BonAngels in December of last year. Now in its third year, the company has entered the live fish distribution market through its Fishfather brand and is accelerating business expansion, aiming to achieve 20 billion won in sales this year.
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