Agriloops, a French company melding shrimp and vegetable farming, has successfully concluded a fundraising round of 13 million euros (USD 14 million). This funding is earmarked for the construction of their first commercial-scale farm, Mangrove #1.

Bridging Shrimp and Vegetable Farming

Over the past four years, Agriloops has been at the forefront of saltwater aquaponics, seamlessly integrating aquaculture with greenhouse cultivation to offer local, premium shrimp production. With their pilot farm in Rennes, the French entrepreneurs have honed their expertise in this innovative agricultural approach and are now poised for expansion.

The latest round of funding, following an initial phase of research and development, signals a significant milestone for Agriloops. It paves the way for the construction of Mangrove #1, a sprawling facility spanning over 1 hectare in Brittany, France. This commercial farm will feature an aquaculture building covering 2,000 m², complemented by a 5,000 m² vegetable greenhouse. Once operational, Mangrove #1 is projected to yield over 100 tons of shrimp and assorted fruits and vegetables annually.

Sustainability at its Core

Agriloops’ aquaponic model underscores a commitment to sustainable food production. The innovative system recycles water from shrimp basins, enriched with nutrients, to nourish fruits and vegetables. This closed-loop approach not only minimizes the need for fertilizers but also slashes water consumption by up to 90%, as articulated by the company’s leaders.

Agriloops’ endeavor has garnered widespread support from diverse stakeholders. Government initiatives like France Relance and BPI France’s DeepTech Development Aid have backed the venture. Additionally, a consortium of investors, ranging from banking institutions to seasoned backers like BNP Paribas Développement and OGHI, along with newcomers such as SPV Aqua Invest, Breizh Up, Transitions First, and Good Only Ventures, have contributed to its success. The company’s innovative approach has also earned accolades on the international stage, receiving recognition from organizations like the Sustainable Ocean Alliance (SOA).

Job Creation on the Horizon

With the launch of Mangrove #1 on the horizon, Agriloops anticipates a significant uptick in employment opportunities. The expansion is expected to create approximately ten new jobs, effectively doubling the current team size.