Posted November 4, 2019
USM Maryland Momentum Fund Invests $150,000 in Minnowtech
UMCES-based startup aims to help maximize shrimp farmers’ efficiency to meet growing global demand
BALTIMORE, Md. (November 4, 2019) – Minnowtech, LLC, an aquaculture technology company enabling shrimp farmers to image shrimp abundance with precision, received a $150,000 joint investment from the University System of Maryland (USM) Maryland Momentum Fund and the University of Maryland Center for Environmental Science (UMCES) to complete the company’s $600,000 seed funding round. Minnowtech’s technology maximizes farmers’ ability to meet rapid growth in the $27 billion farmed shrimp industry.
“These new investment funds will enable us to accelerate product launch and execute on our technical milestones as we prepare to enter the Southeast Asian market," said Minnowtech CEO Suzan Shahrestani. “Over the last year, our team has spent time visiting with shrimp farmers in Asia, Europe, and the Americas to gain a deep understanding of their needs and how we can help hundreds of thousands of shrimp farmers optimize yields.”
Read the full release from the University System of Maryland.