Swedish catfish farmer raises £3.85m for expansion
Gårdsfisk, a Swedish pioneer in sustainable land-based fish farming, has successfully closed a SEK 50 million (£3.85m) Series A funding round.
Founded in 2013 by Johan Ljungquist and Mikael Olenmark, Gårdsfisk has developed a vertically integrated recirculating aquaculture system (RAS) that it says enables land-based fish farming with minimal environmental impact.
It produces catfish (Clarias gariepinus) that it markets under the “Farm clarias” brand, and also sells locally produced trout.
The investment was co-led by the Blue Revolution Fund managed by early-stage aquaculture investor Hatch Blue, and by Swedish venture capital fund Industrifonden.
Scaling up
“This investment comes at a critical time when the demand for sustainable seafood is growing rapidly,” said Ljungquist, chief executive of Gårdsfisk. “With the support of Hatch Blue and Industrifonden, we can scale our operations, develop new products, and bring locally farmed fish to even more consumers. This is a significant step toward reshaping the seafood industry.”
The SEK 50m funding will enable Gårdsfisk to accelerate growth by expanding production capacity, increasing brand awareness, and launching new consumer-focused products.
The company aims to double its revenue by 2026 while maintaining its commitment to sustainability.
“Gårdsfisk has impressed us with the high quality of their farming system and their product. It is a truly mission-driven organisation and their commitment to creating a positive environmental impact aligns perfectly with our mission to change the aquaculture food system,” said Georg Baunach, managing partner at Hatch Blue.
“I’m very excited to work with Johan, Mikael and the team to support the next phase of commercial growth.”
A strong fit for us
Karolina Bjurehed, investment manager at Industrifonden, said: “Gårdsfisk is tackling one of the most pressing challenges in food production today: how to meet protein demand without depleting natural resources. Their innovative approach to land-based aquaculture makes them a strong fit for our investment portfolio.”
The Series A funding round was supported by Novax, the investment arm of family-owned business group Axel Johnson, and by LRF Ventures, run by LRF, the Swedish Farmers' Association. Novax and LRF Ventures are the largest current external investors in Gårdsfisk.
