Nutreco announced that it has invested in Eruvaka, an India-based Internet of Things (IoT) company that develops connected devices and mobile-based decision tools to help aquaculture farmers reduce risk and increase productivity. Nutreco has taken a 25% share in Eruvaka and has entered into a commercial partnership to help scale Eruvaka globally.
Eruvaka was founded in 2012 by Indian entrepreneur Sreeram Raavi. The company’s products allow farmers to actively monitor pond parameters and remotely control automated equipment.
“I’m delighted that this investment enables us to bring our customers the very latest in smart technology," stated Knut Nesse, Nutreco CEO. "Eruvaka’s products perfectly complement our shrimp feed business and will help us further build scale across Latin America and Asia.”
Nutreco will be represented on the board of Eruvaka by its Chief Innovation Officer Viggo Halseth.
Eruvaka Managing Director Sreeram Raavi commented, “I’m impressed by Nutreco’s depth of knowledge of shrimp farming and I look forward to working with the company on the joint development of further projects.”
Nutreco’s aquaculture division Skretting will work directly with Eruvaka to implement the latest in precision farming technology, firstly in Latin America. The technology will be incorporated into AquaSim, Skretting’s suite of customized performance tools, to allow local shrimp farmers to remotely ensure accurate dosages of the right feed when their stock requires it, avoiding over- or under-feeding.
“In Ecuador we have been able to lower the feed conversion ratio and shorten the production cycle of shrimp thanks to satiation feeding, thereby doubling production without huge intensification," stated Carlos Miranda Illingworth, General Manager of Skretting in Ecuador. "The Eruvaka solution will ensure we can work in this way with many more farms in future.”
Other significant shareholders in Eruvaka include Omnivore, an impact venture fund that invests in Indian start-ups developing breakthrough technologies for food, agriculture and the rural economy.