Sea6 Energy, Pioneer of Large-Scale Sustainable Ocean Agriculture, Raises $ 9 Million in Series B Funding Led by Aqua-Spark | Odisha News | Latest Odisha News
New Delhi: Sea6 Energy, a pioneer in innovative technologies for sustainable, large-scale and mechanized ocean agriculture, announced it has raised $ 9 million in Series B funding led by Aqua-Spark, the world’s leading investment fund focused on sustainable aquaculture. Sea6 Energy is a vertically integrated seaweed producer, processor and developer headquartered in Bangalore with a subsidiary in Indonesia. The company has developed the proprietary SeaCombine system, a fully mechanized cultivation system that can simultaneously harvest and replant algae in deep ocean waters, enabling competitive large-scale production. Sea6 has also developed proprietary technologies to convert fresh algae into new environmentally friendly products for a range of industries including agriculture, animal health, food ingredients, bioplastics and renewable chemicals. Sea6 is the only fully integrated marine plant and tropical agriculture product manufacturing company in the world.
Sea6 was founded in 2010 at the Indian Institute of Technology Madras (IIT Madras). At that time, Sailaja Nori, Nelson Vadassery and Sowmya Balendiran had just graduated in biotechnology and Shrikumar Suryanarayan, the former R&D manager of Biocon, was an adjunct professor at IIT Madras. Since its launch, the company has worked on developing technologies and products to better support the algae industry. It now covers the entire supply chain, from seaweed cultivation to product development and sales to consumers.
Aqua-Spark is Sea6’s $ 9 million Series B lead investor, alongside co-investor, Singapore-based Silverstrand Capital. Sea6 had previously received an investment from Tata Capital Innovation Fund in 2015 as part of its Series A funding. The new funds will help finance additional SeaCombine systems to increase the supply of seaweed raw materials and expand processing capacity. Sea6 with additional facilities to produce Sea6’s agricultural biostimulants and animal health products.
Commenting on the investment, Mike Velings and Amy Novogratz, co-founders of Aqua-Spark, said: “Investing in seaweed production has been a priority for us since our launch in 2015 but, so far, we had not found an operation that was both economically viable and capable of producing on a large scale. Sea6’s first-of-its-kind innovation is well positioned to have an impact on how we grow algae and how we use it in all industries. Their SeaCombine enables sustainable use of the ocean, while capturing CO2 and transforming it into valuable products. The company’s approach impressed us from the start, and we look forward to integrating them into our portfolio and starting to work together.
Said Shrikumar Suryanarayan, Managing Director and Co-Founder, Sea6 Energy “We are delighted to be part of the Aqua-Spark portfolio of companies. Aqua-Spark’s vision for sustainability is very well aligned with Sea6’s own vision. At Sea6 Energy, we focus on the cultivation and processing of tropical algae species. The fact that algae cultivation is a very sustainable operation makes this biomass a versatile and ideal raw material that can be used for various industrial purposes to significantly reduce their carbon footprint.