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

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.

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.

Source: Umitron

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.

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.

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

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