TLDR:
Poseidon Ocean Systems, an aquatech company based in British Columbia, has successfully completed a $20.7 million series B funding round led by Ecosystem Integrity Fund. The company plans to use the funds to support its growth and delivery of innovative aquaculture solutions, such as Life Support Systems and Hybrid Sea Cage Systems, to improve salmon farming operations and environmental outcomes.
Article Summary:
Poseidon Ocean Systems, a company founded by Heather and Matt Clarke in 2015, has recently announced the completion of a $20.7 million series B funding round led by the Ecosystem Integrity Fund. The funding will be used to support the company’s growth and delivery of innovative aquaculture solutions, such as Life Support Systems and Hybrid Sea Cage Systems, aimed at improving salmon farming operations and environmental outcomes.
The new funding will also enable Poseidon to expand its manufacturing capacity and deepen its relationships with salmon farmers in Canada, Chile, and the UK, while exploring new global markets. The company’s technologies provide a compelling value proposition for modern salmon farming operations by increasing yields, reducing operating costs, and enhancing environmental sustainability.
According to Jamie Gaskill, the CEO of Poseidon, the funding represents a crucial moment for the company, allowing them to target key growth areas and allocate new resources to manufacturing capabilities. Ecosystem Integrity Fund, the venture capital fund leading the financing round, believes that Poseidon’s innovations can help minimize environmental impact and improve fish health, positioning the company for significant global growth in sustainable aquaculture.
Overall, the successful series B funding round for Poseidon Ocean Systems underscores the company’s commitment to driving innovation in aquaculture and delivering sustainable solutions for the industry’s evolving needs.
