Swansea-based Three-Sixty Aquaculture, the UK’s only sushi-grade prawn farm, has raised €4.1 million in a Series A funding round led by PrimeStar Industries. The round also saw participation from investors including chef Marcus Wareing and Matthew Freud.
The funding will enable Three-Sixty to scale its operations by establishing a new facility in Neath, Wales, expanding production of sustainable, locally-sourced prawns. The farm employs Recirculating Aquaculture System (RAS) technology, an eco-friendly approach that reduces environmental impact and eliminates the reliance on frozen prawn imports, which dominate the UK market.
James Fox-Davies, CEO of Three-Sixty Aquaculture, said: “Demand for prawns is growing globally but the expansion of traditional prawn farming puts increasing pressure on the natural environment. Completing this round of funding puts us well on the way to expanding our sustainable British sushi-grade prawn farm which will not only help address these environmental issues but will bring locally grown, fresh and delicious-tasting prawns to UK diners. We’re starting in the UK but in reality, any country could benefit from our technology so we’re excited to explore international opportunities to build further prawn farms as we scale up.”
The new facility, set to launch in 2025, will supply sushi-grade prawns to the UK restaurant and hospitality sectors and direct-to-consumer markets. As production scales, the company plans to grow its output to over 2,000 tonnes annually and explore international expansion.
Read the orginal article: https://www.eu-startups.com/2024/11/swansea-based-three-sixty-aquaculture-secures-e4-1-million-series-a-for-uk-prawn-farming/
