Lisaqua Raises €4.9 Million, Launches Sustainability-Focused Shrimp Farm

Published on: 5 March 2022 01:11 PM
by KnowESG

A Brief Summary

Lisaqua, a France based startup, secured €4.9 million and is all set to launch France's first land-based shrimp farm.

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The investors, including Le Gouessant Agricultural Cooperative, private investors, and historical investor Litto Investor, contributed €2.6 million to the funding. Other contributors, including Bpifrance and the Credit Maritime and CIC Ouest banks, have separately contributed to the non-dilutive of €2.3 million.

The firm was founded in 2018 by Charlotte Scheolinck and Caroline Madoc, which aims to revolutionalize aquaculture with its low environmental impact production system.

Permaaquaculture is a patented co-culture technology combining shrimp, micro-organisms and marine invertebrates in reticulated indoor aquaculture farms. The innovation helps the farming of shrimp without antibiotics, protects mangroves and saves 99 per cent of water compared to regular shrimp farming. The liquid waste generated from the shrimp farms is treated and used for breeding marine invertebrates for animal feed.

The company has been marketing fresh, local and environmentally-friendly shrimp in France since 2019. Around 80,000 tons of frozen shrimp are imported into France and around 2,90,000 into Europe yearly.The company plans to produce 10,000 tons of shrimp per year by 2030 in France and Europe.

Gabriel Boneu, Lisaqua CEO and co-founder commented: “This funding will allow us to recruit 10 people and to structure strategic partnerships to prepare our scale-up. We plan to set up a network of farms near the main French cities from 2024 to make our ultra-fresh shrimp available to as many people as possible”.