KOA BIOTECH: SOLVING A $6B PROBLEM FOR FISH FARMERS
Over 50% of the fish we consume today comes from farms. This is why this young company is developing a technology that will revolutionize fish health and fish farm economics, and reduce their environmental impact worldwide.
The Barcelona based company KOA Biotech is the business venture of Sira Mogas, and has developed a biosensor system that decreases fish mortality due to pathogens and reduces the use of antibiotics in fish farms. As company says: “Today’s testing technology consists of water samples shipped to labs that take 5 to 10 days to deliver results. Our on-site device continuously monitor for potentially harmful bacteria in the water and create early warning alerts to prevent infections.”
THE MARKET NEEDS
After completing her Ph.D. in Biomedicine, the young scientist Sira Mogas enrolled in an acceleration program held in Barcelona in collaboration with Boston. During this initiative, the identification of a market need in aquaculture prompted the current founder to develop the business idea. One of the major problems arising in aquaculture facilities is the presence of bacterial and viral infections, implying up to 30% of annual production losses due to fish mortality. Seeing the global demand of protein sources in the growing population and the significant role aquaculture can play on that, a more sustainable food production is needed solving current limitations.
LIKE A CAPSULE COFFEE MACHINE
As the founder herself colloquially defined the machine that analyses water As the founder herself colloquially defined the machine that analyses water capsules, it’s an innovative hybrid technology that combines live biosensors which can detect pathogens of interest, and a micro-electronic interface to transform the signals into an online platform. This information is thresholded to send early-warning alerts when a certain pathogen is exceeding its relative abundance. “Preparations are underway for the market launch of the first product line. This not only marks a significant milestone, but also provides an opportunity to validate the business model and gather valuable customer feedback.” capsules, it’s an innovative hybrid technology that combines live biosensors which can detect pathogens of interest, and a micro-electronic interface to transform the signals into an online platform. This information is thresholded to send early-warning alerts when a certain pathogen is exceeding its relative abundance. “Preparations are underway for the market launch of the first product line. This not only marks a significant milestone, but also provides an opportunity to validate the business model and gather valuable customer feedback.”
THE BUSINESS JOURNEY
Sira's participation in various programs, including the Team-Up program organized by EIT Food, proved pivotal in establishing the company with minimal capital. The company has achieved noteworthy results, evident in a substantial increase in capital – €135,000 in awards and €550,000 in public grants at both national and European levels. This success is further reinforced by significant team expansion and strategic collaborations. “In anticipation of sustainable growth, the company is planning to initiate the first round of private capital. This funding will be essential for scaling operations to an industrial level and supporting team expansion, ensuring the continuous and successful development of the company.”
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