Swedish RAS fish farmer raises equity capital
Swedish land-based fish farmer Gårdsfisk has raised 50m Swedish kroner (£3.8m) in its Series A funding round.
Gårdsfisk, which produces trout and African catfish among other species, says its approach to fish farming is sustainable and based on circular economy principles.
The latest investment was led by Hatch Blue’s Blue Revolution Fund and Industrifonden, a Swedish venture capital fund focused on projects with a positive environmental impact. Novax and LRF Ventures, previously the largest current external investors in Gårdsfisk, also supported the latest round.
Hatch Blue said the funding marks a significant milestone in the global shift towards more environmentally friendly and resource-efficient food production.
Founded in 2013 by Johan Ljungquist and Mikael Olenmark, Gårdsfisk has developed a vertically integrated recirculating aquaculture system (RAS) that enables land-based fish farming with minimal environmental impact.
By working with partner farmers, Gårdsfisk aims to ensure that its high-quality fish, including catfish and trout, are farmed locally and sustainably, providing Swedish consumers with a responsible protein alternative.
“This investment comes at a critical time when the demand for sustainable seafood is growing rapidly,” said Johan Ljungquist, CEO 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.”
Gårdsfisk will use the capital raised to expand production capacity, increase brand awareness, and launch 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 organization 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.”
Karolina Bjurehed, Investment Manager at Industrifonden commented: “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.”
Gårdsfisk said its range of products, including smoked catfish, fish meatballs, and trout, is already gaining traction in Sweden as a sustainable alternative to imported seafood.
The company said: “We are excited to welcome Industrifonden and Hatch on board and look forward to collaborating and following the company’s future journey together. Looking ahead, Gårdsfisk plans to strengthen its presence in Sweden and explore opportunities for international expansion. The company will continue to innovate with new product offerings, ensuring that sustainable fish farming remains both environmentally viable and commercially scalable.”
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