Oslo-based agritech startup Catchwise, which uses technology and AI to optimize fisheries and reduce environmental impact, has raised €1.25 million in a pre-seed funding round led by Dreamcraft Ventures, with support from Sondo and Ocean Impact.
- Founded in 2022 by Ludvig A. Løddesøl, Tomas Roaldsnes, Jonas Dammen, Kristian Andersen Hole, and Åsmund Brekke, Catchwise develops a technology platform that uses AI and ocean data to optimize fishing operations.
- Catchwise combines satellite tracking (SAT-AIS), historical fisheries data, and ocean measurements to provide actionable insights to fishing captains, helping them identify optimal fishing areas, reduce search time, and lower fuel consumption.
- Currently used by over 50 large vessels daily, Catchwise claims to cut search times and fuel consumption by up to 50%, contributing to the UN Sustainable Development Goals for life underwater and climate action.
Details of the deal
- The funding round was led by Dreamcraft Ventures, a Copenhagen-based firm that invests in tech startups across Europe, from pre-seed to Series A. In June 2024, Dreamcraft launched a €66 million fund to support B2B software startups in the Nordic and DACH regions.
"The Catchwise team combines exceptional industry knowledge with deep expertise in data and AI. They’re addressing some of the most critical challenges in commercial fishing and have already demonstrated increased catch efficiency, reduced costs, and significantly lower environmental impact," says Daniel Mariussen of Dreamcraft Ventures.
- The investment also received support from Sondo, an Oslo-based VC that invests in tech companies with global ambitions at the pre-seed and seed stages; Ocean Impact, a Swedish investment firm supporting entrepreneurs focused on sustainable ocean solutions; and angel investors from leading tech companies such as Oda, Enode, and Meltwater.
- Catchwise will use the funding to improve its AI and data platform, helping to further optimize fishing operations and reduce search time, fuel use, and carbon emissions.
