Umitron Expands Early Stage Funding to S$15.2mil and Starts Data Service for Aquaculture Insurance Leveraging IoT and Satellite Remote Sensing

Information Technology Press Releases Tuesday September 11, 2018 08:00
SINGAPORE--11 Sep--PRNewswire/InfoQuest

UMITRON PTE. LTD. (Location: Singapore, Co-founder / Managing director Masahiko Yamada, hereinafter "Umitron") announced that it has raised S$3.7mil funding from Mirai Creation Fund operated by SPARX Group. Co., Ltd. on 6th September as the additional closing of first enterprise equity finance announced on 8th June. The total investment in this round becomes S$15.2mil and would be the largest amount of fundraising as an early-stage startup in aquatech (as of September 2018). Umitron has also announced that it has started demonstrating new service to provide reliable data for aquaculture insurance. Umitron's patent-pending technology enables users to quantify the asset value of fishes and provides environmental data for risk assessment. With an aim of expanding its services, Umitron currently invites overseas business partners such as enterprise aquafarms and insurance providers for sustainable aquaculture.

Manage aquaculture risk with technology

Marine aquaculture production could potentially be increased by over 100 times compared to today's value by estimating location-specific growth potential using the temperature tolerance of aquaculture species with other important factors such as ocean depth.* On the other hand, one of the challenges is to find ways to support aquafarmers from environmental risk such as disaster on open-ocean. There have already been several insurances in Aquaculture today to reduce risk for farmers, but aquaculture insurance has been facing technical challenges to evaluate value of the fish insured as well as to accumulate environmental data from farming sites. Umitron's patent-pending technology provides reliable data for aquaculture insurance and support farmers to keep their management risk to a minimum for sustainable aquaculture.

* Rebecca R. Gentry, et. al., Mapping the global potential for marine aquaculture, Nature Ecology & Evolution volume 1

Based in Singapore (HQ) and Japan (R&D HQ), Umitron builds user & eco-friendly data platform in aquaculture to improve farm efficiency and manage environmental risk for sustainable ocean. In June 2017, Umitron launched "UmiGarden" as its initial product. UmiGarden provides feeding optimization in aquaculture through fish school analysis. Also, since August 2018, Umitron has started demonstrating data service for aquaculture insurance using IoT and satellite remote sensing to evaluate and mitigate risks associated with ocean environment and farm operations. Umitron aims to "install Sustainable Aquaculture on Earth" andbelieves risk management is a key for sustainable aquaculture development.

Photo - https://photos.prnasia.com/prnh/20180907/2230130-1-a
Photo - https://photos.prnasia.com/prnh/20180907/2230130-1-b

Latest Press Release

MSC รับรางวัล FY2019 Champion of Data Protection Group

Mr. Tiang-Hin Ang General Manager Channels, Asia Pacific Japan Dell EMC, คุณคุณชัยวัฒน์ วชิรโรจน์ไพศาล ผู้จัดการทั่วไปกลุ่มธุรกิจดิจิตอลโซลูชั่น MSC คุณนพดล ปัญญาธิปัตย์ ตำแหน่งผู้จัดการประจำประเทศไทย Dell EMC (Mr. Noppadol Punyatipat, Country Managing...

Huawei Unveils AirEngine as New Wi-Fi Brand and Announces Global Mass-Market Deployment of Its Wi-Fi 6 Products

At the Huawei Global Analyst Summit 2019, Huawei and Wi-Fi Alliance (WFA) held a media roundtable meeting with the theme of "Wi-Fi 6, Unlocking Business Value." At the media roundtable, Huawei announced AirEngine as its new Wi-Fi brand, which will be...

Huawei Recognized as an April 2019 Gartner Peer Insights Customers# Choice for Data Center Networking

Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, announced that Huawei CloudEngine Switches have been named an April 2019 Gartner Peer Insights Customers' Choice for Data Center...

If You Can Highlights Auto-translation Benefits for Diverse Communities

Automatic In-app translations help create effective communication among multi-cultural groups. Bangkok, Thailand – 18 April 2019 – If You Can Co., Ltd., a leading software company providing security and notification solutions for individuals...

7-Eleven CLiQQs with CleverTap To Drive Effective Customer Engagement for its Digital Payments App

The retail giant uses CleverTap's customer lifecycle management platform to drive successful online and in-store user engagement and retention strategies CleverTap, the customer lifecycle management platform, today announced that 7-Eleven Philippines, a...

Related Topics