Scottish aquaculture tech company Ace Aquatec has announced the successful closing of its latest investment round, where £10 million was secured.

The round was led by Stolt Ventures, with participation from Scottish Enterprise and Aqua-Spark. It was oversubscribed, and incorporates a period post-close to allow for further investors to participate.

The funding consisted of £7.5m in equity funding, plus an additional £2.5m debt facility, which has been made to support the creation of 15 jobs at the firm’s offices in Dundee, Glasgow, and Chile.

The roles will focus on the continued development of AI and its role alongside advanced sensors, cameras, and machine learning algorithms which can offer real-time insights that optimise welfare from cage operations through to harvest.

Ace Aquatec provides customers with AI cameras able to accurately track fish weights, detect health issues such as wounds or maturation, and track individuals in multiple species. It also provides unique humane slaughter systems for farmed and wild fish using electricity in water.

New sea lice removal systems, which utilise these same technologies, are also being prepared for commercialisation.

“Our customer is at the heart of everything we do, and this investment allows us to meet the needs of farmers globally by expanding our portfolio, hiring top talent, and deepening our data capabilities,” said Nathan Pyne-Carter, CEO of Ace Aquatec.

“Having the backing of Stolt Ventures represents a pivotal moment in Ace Aquatec’s mission to revolutionise the aquaculture industry through welfare-first innovation, while providing vital employment opportunities. Stolt Ventures represents the perfect strategic fit given Stolt-Nielsen’s leading position in Stolt Sea Farm.

“This investment, alongside Scotland’s national development agency Scottish Enterprise, will ensure strong local support for the team which has drive, innovation and ambition to be a global player. Our incoming investors complement our existing shareholder group, particularly Aqua-Spark, who continue to provide long-term support for the business.”

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Wider changes will see Axel de Mégille, head of Stolt Ventures, joining the board as a non-executive director. Mégille brings experiences from board positions at software platform Signol, to blockchain platform WaveBL.

Stolt Ventures is the corporate investment vehicle from Stolt-Nielsen, the group of businesses in global bulk-liquid and chemical logistics and land-based aquaculture.