Blockchain/AI/IoT | May 2, 2018

Nutreco takes stake in IoT company Eruvaka to boost sustainable seafood

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 2 – Eruvaka has developed sensors that help shrimp farmers manage their stock and ponds. Dutch animal feed company Nutreco has invested an undisclosed sum for a 25% stake in the company. Indian impact investment firm Omnivore Capital also backed the round. Nutreco sells animal and fish feed products in 32 countries and will help Eruvaka expand its business in Asia and Latin America.

  • The impact… The investment aligns with Nutreco’s “Feeding the Future” sustainability initiative to achieve food, agriculture and ocean-related Sustainable Development Goals.
  • India’s innovation… “Global agribusiness majors are recognizing that they need to look at startups in India to find the next generation of technologies for small and medium farmers globally,” Omnivore’s Mark Kahn told the Economic Times.

Other funds are also taking Indian innovations global. Unitus Ventures’ second fund will be invested in Indian startups with the potential to achieve global scale.