Bluefront Equity invests in Spillfree Analytics AS

Seafood investment group Bluefront Equity have announced a nearly US$2 million investment in Norway-based Spillfree Analytics AS. Spillfree are the creators of software which analyzes video data to reduce feed waste.

“Spillfree can, through video and data analysis, contribute towards delivering world-class feeding performance with lower costs for the fish farmer, improved fish growth and minimal impact on the marine environment,” said Simen Landmark, a partner at Bluefront Equity.

Spillfree Sales Manager Kåre Gruven says their software utilizes AI to interpret video information from aquaculture pens to provide more detailed analysis for operators. Of particular note, the system identifies how many feed pellets can be seen at any given time. In that way, the system can evaluate feed efficacy throughout the process, not solely looking at the final output. Gruven says that feed waste is a crucial issue that touches on many other factors of fish farming. 

Spillfree Analytics AS Sales Manager Kåre Gruven says that the investment by Bluefront Equity will allow the company to speed up the continued development of the AI which drives their software.

“It’s an important topic because there are a lot of people in the industry talking about different diseases, sea lice, handling of the fish, wounds, etc.,” says Gruven. “We’re working on the core process – to shorten the production time to increase everything. And also when it comes to sustainability, because everyone needs to get more focused on this.”

The investment by Bluefront Equity will allow Spillfree to essentially speed up their existing plans for further developing the AI which drives their software. 

“There’s a lot of interest in AI and in the machine learning concept and how to work with this in fish farming,” says Gruven. “Where we have a good partner in Bluefront I think its important for us to use this investment to speed up this process in people and in software solutions.”

Gruven says that Spillfree’s focus has primarily been on the Norwegian market but their software is available in a variety of languages and has been used by farms in Scotland and Iceland as well.