Key Takeaways
- Capital Raise: Agriloops raises €13 million to fund its first commercial-scale aquaponic farm, “Mangrove #1”.
- Technological Innovation: The company has patented a unique saltwater aquaponics technology, successfully tested in a pilot farm.
- Sustainable Aquaculture: Emphasizing local shrimp farming, Agriloops combines respect for nature and human well-being.
- Broad Support: The funding combines equity, debt, and grants, with contributions from a diverse group of investors and a significant crowdfunding campaign.
- Strategic Goals: “Mangrove #1” aims to prove the scalability and profitability of Agriloops’ technology, focusing on environmental benefits and industry needs.
Overview
Agriloops has announced a €13 million investment to construct its first commercial-scale aquaponic farm, named “Mangrove #1”. Located in Bréal-sous-Montfort, France, the farm aims to be one of Europe’s largest, producing over 100 tonnes of shrimp and vegetables annually. This move marks a significant step from R&D to large-scale production and commercialization for the company.
Founders’ Vision
Founded in 2016 by Jérémie Cognard and Romain Vandame, Agriloops’ mission is to innovate aquaculture with a focus on sustainability. “Mangrove #1 is a key milestone demonstrating our technology’s scalability and profitability. We are eager to showcase our unique approach that brings significant environmental benefits while meeting our industry’s growing needs,” said Cognard and Vandame, highlighting the project’s ambition and future impact.
Investment and Support
The funding round, bolstered by equity, debt, and grants, attracted support from new banking partners, longstanding investors like BNP Paribas Développement, OGHI, various Business Angels, and new entities such as SPV Aqua Invest and the Sustainable Ocean Alliance. A record-breaking crowdfunding campaign through Sowefund also contributed to the financial pool.
Patricia Leyrat from BNP Paribas Développement shared her enthusiasm for the project. She stated, “We’ve supported the team since their initial seed funding round and are excited to continue our support as they move from proof of concept to commercialization. We are convinced of the technology’s relevance and that the aquaponic farm will demonstrate this.”
Benjamin Wattinne of Sowefund expressed gratitude towards the investors: “We warmly thank all the investors who participated in this operation and congratulate Agriloops for their successful fundraising. This operation again demonstrates our shared commitment to French innovation and sustainable agriculture.”
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