AquaEasy shrimp aquaculture start-up receives funding from Bosch

Bosch, a global technology conglomerate, has invested in shrimp aquaculture innovator AquaEasy, based in Singapore, following the launch of an initiative to develop start-ups in the region.

Image credit: AquaEasy

AquaEasy uses sensors, software, and analytics to provide services that are supported by artificial intelligence to the shrimp sector. Shrimp farmers in Indonesia, Vietnam, and Singapore have been able to 'increase yield, predictability, and implement sustainable aquaculture practices, while reducing risks and costs," due to the support from AquaEasy.

Engaging with the startup from 2018, Bosch has been providing support for it in many areas including market development, business strategies, recruitment, networks, and partnerships.

EDB New Ventures and Innovation Vice President Choo Heng Tong says, 'Through corporate venturing, Bosch has been able to expand into new domains such as aquaculture in an agile way. Our joint investment into AquaEasy reflects the strong market potential in Asia where the majority of global shrimp production takes place. As a corporate venture, AquaEasy leverages Bosch's deep sensor and AI expertise for its competitive edge, and is well-positioned to tap into this market from Singapore.'

AquaEasy is the first start-up to receive funding from Bosch and EDB New Venture, an in-house innovation operated by Singapore's Economic Development Board, a government agency under Singapore's Ministry of Trade and Industry.

EDB New Ventures has also launched a start-up incubation network called grow Singapore, which aims to leverage Singapore's position as an innovation centre in the region.

'With grow Singapore, Bosch now has a 'venture engine' here to create high-growth new businesses and we are excited that AquaEasy is the first of many ventures to come," Mr Tong says.

EDB New Ventures hopes to launch least five new businesses in Singapore by 2023 in order to create new growth opportunities for Bosch in Asia.

For more information about AquaEasy visit their website, HERE.

The Aquaculturists

---