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Shrimp start-up secures $600k seed funding

5 November 2019, at 1:00am

Minnowtech, an aquaculture technology company that enables farmers to assess shrimp abundance for optimising 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 Hatch, as well as individual and strategic investors from around the world.

Minnowtechwill use these funds to accelerate product development and execute technical milestones in preparation for product launch in South East Asia.

“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, Dr Suzan Shahrestani. “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.”