AI Technology Revolutionizing Aquaculture: Wittaya Aqua Leads the Charge
**Growing Global Demand for Aquatic Foods**
With over 3 billion people relying on seafood for their protein intake, the demand for aquatic foods continues to rise. In fact, a recent report indicates that 89% of all aquatic animal production is used for direct human consumption. This surge in consumption has led to an increase in startups utilizing AI technology to enhance production and sustainability in the aquaculture sector.
**Wittaya Aqua: Consolidating Data for Greater Profitability**
Among these startups is Wittaya Aqua, a Canadian-based company that has developed a data-driven platform to help seafood farmers drive profitability, sustainability, and efficiency. By consolidating data points across the seafood supply chain, the platform provides valuable insights to farmers. Wittaya Aqua recently raised $2.8 million in a seed round to expand further into Asia, the largest aquaculture-producing region.
**Asia: The Global Leader in Aquaculture**
Asia, with countries like China, Indonesia, Vietnam, Bangladesh, and South Korea leading the way, is the dominant force in aquaculture production. However, Wittaya Aqua sees immense potential for growth through data-driven practices in Southeast Asia and aims to tap into this market.
**AI and Machine Learning for Optimal Results**
Wittaya Aqua’s platform utilizes AI and machine learning to optimize results. The platform’s science-based models forecast animal growth and provide predictive analytics for farmers. By analyzing historical data and environmental factors, the algorithm suggests strategies to maximize crop yields. Additionally, it recommends the optimal feed types and quantities based on real-time data and growth projections.
**Addressing Industry Challenges**
Co-founded by Evan Hall and Dominique Bureau, Wittaya Aqua aims to address the industry’s challenges of fragmented and slow-moving data. By consolidating data from various points in the supply chain into a single centralized platform, the company provides transparency and actionable insights. Farmers can see how their feed choices impact growth rates and compare their performance against industry benchmarks, while feed mills can analyze how their feeds perform on various farms.
**A Unique Approach and Market Potential**
What sets Wittaya Aqua apart from its competitors is its combination of nutritional information with field performance. This allows the company to model the impacts of different feed ingredients on animal performance, catering to multiple species in multiple geographies. With the global aquaculture market projected to reach $355.6 billion by 2033, Wittaya Aqua is well-positioned to capitalize on this growing industry.
**A Two-Pronged Approach for Financial Stability**
In the long term, Wittaya Aqua plans to provide financial stability for farmers by reducing credit and insurance risks related to production mortality. By offering robust data and insights, the company aims to match its users with lenders and insurers who can provide customized financial products.
As Wittaya Aqua continues to expand its operations in Canada and Singapore, its platform has already gained traction with notable customers such as BioMar, De Heus, Uni-President, and AquaChile. With its innovative use of AI and machine learning, Wittaya Aqua is leading the charge in revolutionizing the aquaculture industry.
