Minnowtech CEO Suzan Shahrestani says investments will accelerate product launch and drive market expansion in Southeast Asia
November 4, 2019, Kailu-Kona, HI – Minnowtech, LLC, an aquaculture technology company that enables shrimp farmers to image shrimp abundance for optimizing feed and harvest, announced today the closing of a $600,000 seed financing round.
The seed round included investments by the University System of Maryland Momentum Fund, University of Maryland Center for Environmental Science (UMCES) and the HATCH Aquaculture Accelerator as well as individual and strategic investors from around the world.
Minnowtech will use these funds to accelerate product development and execute technical milestones in preparation for product launch in the Southeast Asia region.
“We’re grateful for this funding round and to the participants who really represent the support we’ve received during every stage of our development,” said Minnowtech CEO Suzan Shahrestani, PhD. “UMCES is where we learned about imaging while the Momentum Fund represents how well we thrived in the Maryland entrepreneurial community. HATCH helped us travel the world, meet our customers and discover the wonderful shrimp testing facilities in Hawaii.”
Minnowtech is an aquaculture technology company, founded in Baltimore, MD and with operations in Hawaii, that enables shrimp farmers to image shrimp abundance with precision. Using Minnowtech’s data-based imaging tool, shrimp farmers optimize the health and growth of their hatcheries, enhancing harvest of market-size shrimp while minimizing risks to juvenile shrimp. Learn more: www.minnowtech.com