- Nordic SeaFarm raises €2 million to start a “blue revolution” in the food industry.
Swedish foodtech company Nordic SeaFarm is on a mission to become Europe’s largest seaweed company within five years. To that end, the company has just raised €2 million from investors including JCE Ventures, Almi Invest, and Kale United.
Nordic SeaFarm will use the funding to scale up its ocean cultivations on the west coast of Sweden, where a unique method is used to produce seaweed on a large scale. The company grows organic sugar kelp and sea lettuce, which are sold to leading Swedish restaurants.
At present, the world’s largest seaweed producers are all found in Asia, but demand in Europe is rising and Nordic SeaFarm believes there is space for more European growers. The North Sea is an ideal environment for seaweed production due to its cold and nutrient-rich waters.
A growing industry
A recent report found that the seaweed industry had seen major growth, with investment rising by 36% to $168 million last year. Growth is being driven by increasing concerns about sustainability, as seaweed requires no land, freshwater, or fertilizer to produce. Additionally, seaweed is highly versatile, with applications in the food, cosmetics, pharmaceutical, and even textiles industries.
“Utilizing the potential of the sea and making use of seaweed as a plant-based crop from the ocean will play a major role in the transition to a more sustainable food production. With the new capital, we can drive a blue revolution and expand the cultivation capacity at sea from the current 30 tonnes to over 300 tonnes per year, accelerate our product development and make the products available to a wider audience,” said Simon Johansson, CEO of Nordic SeaFarm.
