LocalCoho, an Auburn, NY-based land-based aquaculture startup that raises premium Coho salmon at an indoor farm, received new funding from Cuna del Mar.
The multi-million-dollar investment will allow the company to prepare for expansion of its pilot facility in the Finger Lakes region of upstate New York and start mapping a plan for growth in other regions of the U.S., with a farm eyed for the Midwest. Its fish are already on the menus of Nobu in New York and Morimoto in Philadelphia.
Led by CEO Michael Fabbro, LocalCoho grows Coho salmon indoors from egg to harvest using Recirculated Aquaculture Systems (RAS) technology. This technology aims to optimize resource use and minimize impact on the local environment and wildlife and allows farms to be sited in areas local to the customers they serve.
The company is seeking to raise an additional $4 million by the end of 2023 to fund its next growth phase.
FinSMEs
27/09/2023