In brief: Umitron scores extra funding to improve fish-farm insurance

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Umitron has announced that it had raised US$2.68 million investment from Mirai Creation Fund operated by SPARX Group on September 6 2018, as the additional closing of its first enterprise equity finance which was announced on June 8, 2018. The total investment in this round becomes US$11 million.

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Umitron has also announced that it has started demonstration of a new service to provide reliable data for aquaculture insurance. Umitronʼs patent-pending technology [can] quantify the asset value of the fish and provides environmental data for risk assessment.

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Source: Umitron

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The Japan- and Singapore-based startup deploys underwater sensors and data analytics to help fish farmers keep tabs on their stock, allowing them to optimize their use of feed.

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Umitron will use some of the money raised to set up an “open-door policy to [collaborate with] enterprise aquafarms and insurance providers for sustainable aquaculture.” The new funding is an add-on to the US$8.2 million it raised in June from government-linked Innovation Network Corporation of Japan and venture capital firm D4V.

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Umitron was the winning startup at the Tech in Asia Tokyo 2017 Arena pitching contest.

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Currency converted from Singapore dollars. Rate: US$1 = S$1.38