Ocean farming Startup Sea6 Energy raises $9 million led by Aqua-Spark & Silverstrand Capital
The new funds, according to the company, will contribute to the financing of additional SeaCombine systems to increase the supply of seaweed raw material and expand Sea6's processing capacity through the establishment of additional facilities.
The ten-year-old startup has created a proprietary cultivation mechanism called SeaCombine, which can simultaneously harvest and replant seaweed in deep ocean waters, allowing for cost-competitive production at scale.
Additionally, the startup has developed proprietary technologies for converting fresh seaweed into environmentally friendly products for a variety of industries such as agriculture, animal health, food ingredients, bioplastics, and renewable chemicals.
“We are delighted to be part of Aqua-Spark’s portfolio of companies. Aqua-Spark's vision of sustainability is very well aligned with Sea6's own vision.
At Sea6 Energy, we are focused on cultivating and processing tropical seaweed species. The fact that seaweed cultivation is a very sustainable operation makes this biomass a versatile and ideal raw material that can be used for a variety of industrial purposes to greatly reduce their carbon footprint," said Shrikumar Suryanarayan, managing director and co-founder, Sea6 Energy.
Sea6's patented agriculture biostimulant product is exported to countries such as the United States, Indonesia, Sri Lanka, and Vietnam.
Tata Capital Innovation Fund had previously invested in the company as part of their Series A funding in 2015.
“Investing in seaweed production has been a priority for us since we launched in 2015 but, until now, we hadn’t come upon an operation that was both economically viable and was able to produce at scale. Sea6's first-of-its-kind innovation is well-positioned to impact how we farm seaweed and its utilization across industries," said Mike Velings and Amy Novogratz, co-founders of Aqua-Spark.