January 20, 2023
ReelData, an artificial intelligence startup based in Halifax, recently raised $10.6 million in a Series A funding round. The funding was led by Chicago-based Buoyant Ventures as well as agriculture-focused investors including S2G Ventures and The Nest Family Office.
ReelData was founded in 2018 by Mathew Zimola and Hossein Salimian with the goal of solving issues around food production by supporting land-based aquaculture. The company’s first product, ReelAppetite, can identify fish population appetite and adjust feed levels based on that tracking. This allows farmers to save millions of dollars annually by reducing wasted feed, according to the company.
ReelData intends to launch another product, ReelBiomass, which tracks the size and weight of fish populations. This new funding round will allow the company to develop a precise and autonomous operating system.
Max Borins