The Ventures Makes Seed Investment in Aquaculture Innovation Startup 'JJ&Companies'

Integration of ICT-Based AI Technology, Localization of Nordic Equipment... Provided at 'Half' the Cost

JJ&Companies, a specialized company in aquaculture equipment development and marine engineering (CEO Jeon Jeong-ho, center in the photo), has secured seed investment from The Ventures, an early-stage venture capital firm. Photo by JJ&Companies

[Asia Economy Reporter Kim Heeyoon] The early-stage venture capital firm The Ventures announced on the 3rd that it has invested in JJ&Companies, a company specializing in the development of aquaculture equipment and marine engineering.

Currently, eco-friendly recirculating filtration aquaculture equipment is dominated by products from Northern Europe. However, maintenance costs are high, and it has been difficult to downsize equipment suitable for domestic conditions. Domestic aquaculture operators have had no choice but to operate with existing outdated facilities, leading to high mortality rates and marine pollution caused by contaminated discharge water.

JJ&Companies is developing the 'Triangle System,' an eco-friendly recirculating filtration aquaculture automatic control system technology that filters water multiple times for reuse to solve these problems. The Triangle System is a data-driven smart aquaculture facility that can be designed in a compact form tailored to the domestic market environment and offers costs more than 50% lower than Northern European competitors. In the future, by fully automating and advancing the aquaculture system through ICT-based artificial intelligence technology, they plan to reduce management costs and realize an affordable and sustainable market.

JJ&Companies CEO Jeon Jeongho said, “While promoting the development of the Triangle System, we will first develop and distribute a large-scale land-based aquaculture automation system through automation of filtration device control equipment and construction of recirculating filtration aquaculture facilities.” He added, “Our goal is to expand the species available for aquaculture and secure the diversity and efficiency of future marine resources through real-time remote monitoring.”

The Ventures partner Kim Daehyun said, “We made this investment because we empathized with CEO Jeon Jeongho’s sincerity, who accumulated know-how as an engineer for over 15 years at a Norwegian state-owned company, and the vision that aquaculture will lead the future fisheries industry.”