Smolt Raises ¥200 Million in Latest Funding Round
Smolt, a company specializing in the development and production of high-temperature resistant cherry salmon and a unique fish egg product called "Tsukimi Ikura," has successfully raised ¥200 million in a pre-Series A extension funding round. The investment was led by Mint, with additional participation from Samurai Incubate, ANOBAKA, and Chugin Capital Partners.
Company Overview
Smolt focuses on the selective breeding and seed supply of cherry salmon that can withstand higher water temperatures, reaching around 24°C. The company also produces and sells "Tsukimi Ikura," a product derived from salmon roe. Notably, Smolt avoids genome editing and genetic modification in its breeding processes, opting instead for traditional selective breeding methods.
Strategic Allocation of Funds
The newly acquired funds will be allocated towards strengthening collaborations with fisheries operators across Japan. This will involve expanding production bases for both the high-temperature resistant cherry salmon and Tsukimi Ikura. Smolt aims to scale up production and broaden its partnerships with fisheries operators. Additionally, the company plans to consult on the effective use of existing facilities, considering the aging infrastructure of inland aquaculture farms and the decline in salmon return numbers.
Future Plans
Looking ahead, Smolt intends to expand its production scale and enhance its collaborations with business companies focusing on land-based aquaculture initiatives. The company is committed to developing innovative solutions to address the challenges faced by the aquaculture industry in Japan.
For more information about Smolt and its innovative products, visit their website.