Tidepool Co., Ltd., a tech startup specializing in fisheries and aquaculture, announced on the 7th that it had secured 1.5 billion won in Pre-A investment from Future Play and BonAngels Venture Partners.
Tidepool develops and operates "Fishfather," a premium aquaculture product distribution and sales brand, and "FishScope," a smart aquaculture AI solution based on image recognition. This round of investment was led by Futureplay, with BonAngels Venture Partners participating, following the previous round. Through this round, Tidepool has secured over 1.8 billion won in cumulative investment.
Tidepool, through its "Fishfather" brand, transparently provides consumers with high-quality, properly raised aquaculture products. It is rapidly growing, aiming to surpass KRW 5 billion in sales by 2024, just two years after its founding. Furthermore, it offers "FishScope," a smart aquaculture solution that quantifies fish growth, behavior, and feeding activities, leading the digitalization of aquaculture farms. Tidepool aims to become a comprehensive aquaculture company not only in the domestic aquaculture market, estimated at KRW 5-6 trillion, but also in the East Asian market.
The global aquaculture industry accounts for approximately 53% of the total seafood supply, with a market size of approximately KRW 400 trillion. The shift from traditional offshore aquaculture to smart land-based aquaculture is accelerating due to factors such as climate change, uncertainty in marine aquaculture, environmental pollution, and an aging workforce. Consequently, the importance of Tidepool's smart aquaculture solutions is expected to grow.
Tidepool CEO Lee Jun-ho stated, "The Korean aquaculture industry has been experiencing stagnation, primarily driven by small-scale fishermen, but the recent implementation of the Aquaculture Industry Development Act marks a turning point." He added, "Based on this investment, we will streamline all stages of aquaculture production and address inefficiencies and opacity in distribution through technology and business." He added, "Through this, we will enhance transparency and trust across the aquaculture industry."
“Climate change, environmental pollution, and labor shortages are intertwining to create cracks in the traditional marine aquaculture industry,” said Jeon A-ram, a senior analyst at Futureplay, which led this investment. “Tidepool, which can simultaneously implement AI-based technology development, field sales, and commercialization, has the potential to revolutionize the entire value chain of the aquaculture industry,” he expressed his expectations.
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