Oceanloop, a German aquaculture technology startup, has secured a €35 million loan from the European Investment Bank (EIB) to support its growth in Germany and expansion to Gran Canaria, Spain. The funding will help the Munich-based company develop its indoor shrimp farming technology and increase production capacity.
The EIB loan will fund two key phases of Oceanloop’s expansion. The company will scale its recirculating aquaculture system (RAS) farm in Kiel from five tons of shrimp per year to 60 tons. It will also build an inland farm for whiteleg shrimp in Gran Canaria with an annual capacity of 2,000 tons.
Founded in 2012, Oceanloop operates two pilot shrimp farms in Kiel and Munich, supplying shrimp through its sister company, Honest Catch, to restaurants, supermarkets, and consumers. The company focuses on providing a sustainable and traceable alternative to imported shrimp. Oceanloop’s technology allows farmers to control farming conditions and reduce resource use. It also uses AI and computer vision to monitor biomass and stress levels in real time.
“The European Investment Bank supports European tech companies with ambitions to drive innovation,” said Nicola Beer, EIB vice-president. “Oceanloop is a good example of how we help startups scale with the right financing.”
The loan is supported by the InvestEU program, which aims to generate €372 billion in investment in new technologies by 2027. With this funding, Oceanloop plans to expand its shrimp farming operations and meet demand for locally-produced seafood in the European market.
