Singapore: Siemens invests $14,1 million in floating aquaculture startup

Singapore Aquaculture Technologies (SAT), a pioneer of tank-based closed-containment aquaculture systems on floating structures, has finalized a Series A financing round totaling S$9.2 million.

The main part of this equity investment comes from Siemens Financial Services (SFS) via Siemens Project Ventures GmbH - the financing arm of global technology company. As SAT’s first institutional shareholder, the investment from SFS accounts for a significant minority stake in the company.

SAT's founders, Dirk Eichelberger and Michael Voigtmann, view Siemens’ entry as a validation of their strategy to become the leading supplier of data- and artificial intelligence (AI)-driven aquaculture solutions, in addition to producing premium fish products under their BluCurrent label.

“We are absolutely thrilled that Siemens, which started off as our technology partner, is now also invested in us as our first institutional investor,” commented CEO Dirk Eichelberger in a press release.

“Siemens is deeply committed to sustainability and this is reflected in both our investment and technologies,” said Steffen Grosse, CEO of equity finance at Siemens Financial Services. “By investing in SAT, we hope to further support sustainable food production and help Singapore to achieve its ‘30 by 30’ goal of 30 percent local food production by 2030.”

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