Arable land has been shrinking since 2000, putting pressure on the world’s food systems. As the oceans have problems of their own – with an 80% drop in fish stocks and increased acidification – the need for more regenerative solutions to feed future generations is great. The founders of Nordic SeaFarm have set out on a journey to explore the full potential of seaweed.
- Seaweed is a truly regenerative solution – it relieves the pressure on agriculture and at the same time it contributes to saving our oceans by absorbing CO2e and increasing biodiversity, says Simon Johansson, CEO at Nordic SeaFarm.
Seaweed is a truly regenerative solution – it relieves the pressure on agriculture and at the same time it contributes to saving our oceans by absorbing CO2e.
This naturally raises the question: is it possible to live on seaweed? The answer is yes.
- It’s actually quite nutritious. Some species contain up to 35% protein and it is a really delicious ingredient in a wide array of foods, Asian fusion in particular, continues Simon.
Nordic SeaFarm’s main focus today is to integrate seaweed into the food system to really boost its value and impact.
- The impact comes from the possibility to replace ingredients such as meat or soy beans. But the seaweed can also provide solutions for long-term carbon capture and storage, says Simon.
The company has set sail in Scandinavia, with more than 90 customers already onboard, and now has plans to expand in Europe.
- Our ambition is to grow and take the lead in Europe. We also plan to expand into other high-potential vertical markets such as biomaterials, personal care products and animal feed, continues Simon.
We also plan to expand into other high-potential vertical markets such as biomaterials, personal care products and animal feed
In 2022 the team at Nordic SeaFarm was really put to the test when the harvest came in four times bigger than the previous year.
- My main learning as an entrepreneur is that the team is everything. Through teamwork, innovation and some grit, we came together and successfully handled 70 tonnes during a short harvesting window, says Simon.
In order to grow, Nordic SeaFarm needs to invest in people and infrastructure at sea, but they aim to be as asset-light as possible, to avoid over funding.
- The best financing comes from sending invoices to customers. Second best is mission-aligned long-term investors, which we are fortunate enough to have onboarded in our latest seed round a couple of years back, continues Simon.
The best financing comes from sending invoices to customers. Second best is mission-aligned long-term investors.
Simon also points out that it is good to meet and pitch to investors on a regular basis. Financing and raising capital is a journey.
- For example, we had the opportunity to pitch at a Norrsken Angel Impact Investing Session last year, with both Nordea and Nordic Capital customers in the audience. The excellent networking and insights we gained were very valuable in our preparations for the capital raise that we are now launching.
At least one out of three adults suffers from two chronic illnesses worldwide. Brothers Petter and Jesper Aasa want to change that. They have now launched Vitala, the world’s first medical training and rehabilitation app. To boost the launch further they enlisted the help of Peter Dalmalm, Head of Business Banking Sweden, with the goal of helping one billion people.
Read moreNorrsken supports entrepreneurs who solve our biggest challenges, such as poverty, hunger, environmental issues, mental health and integration. Norrsken supports by running Norrsken House (a gathering place and ecosystem in Stockholm with 450 impact-tech entrepreneurs) and a billion-dollar VC fund.
Since 2018, Nordea has been the main partner of Norrsken House and we support members daily with our advice, expertise and network of major customers and investors. Norrsken and Nordea have now renewed their partnership until 2024.
Norrsken and Nordea in renewed partnership (Swedish)