Kaly Group, a Scottish start-up, has secured a £300,000 investment to expand its seaweed farming operations. The funding round was led by TRICAPITAL Angels with co-investment from Scottish Enterprise.
The business, which opened its first seaweed farm on the Isle of Skye earlier this year, will use the investment to develop a sustainable seaweed supply chain along Scotland’s west coast. Seaweed farming presents opportunities in industries such as plastics alternatives, cosmetics, pharmaceuticals, textiles, food, and animal feed.
Scotland’s seaweed sector has significant potential, with the European market projected to reach £9 billion by 2030. The country is positioned to capture a £2 billion share of the market, benefiting from its extensive coastline. The industry could also create over 550 jobs across Scotland’s supply chain, helping to revitalize traditional fishing and marine sectors.
Moray Martin, CEO of TRICAPITAL Angels, expressed confidence in the business, noting growing interest in the blue economy and seaweed’s potential to contribute to environmental and economic growth. Kaly Group’s community-focused approach aims to ensure that seaweed farming benefits local ecosystems and communities. The investment will help address challenges in biomass cultivation and product production to scale the industry.
