Rooser raises $23M in funds for its seafood trading platform

• ByStartupStory     |    April 25, 2022

Rooser, a startup that has built a platform to make the business of fishing more efficient, is now raising $23 Million for its seafood trading platform

The startup, which provides a marketplace for sourcing fish aimed both at those fishing and those buying for wholesale, trade or retail, will be using the money raised to continue building more functionality into its platform and to expand into more markets.

The startup now focuses on stock management and will soon plan to incorporate supply chain finance, quality control tools, and personalization for buyers and sellers to connect more likely trades.

The Edinburgh-based startup currently has around 45 “species” on sale totaling over 71,000 kilograms but refused to disclose specific customer numbers apart from noting that it has more than 300 active users and has enabled around 50,000 transactions to date.

Index Ventures is leading this funding round, with participation from GV, Point Nine Capital, Figma CEO and co-founder Dylan Field, David Nothacker, co-founder and CEO of freight and cargo startup Sennder etc

Joel Watt — the Chief Executive Officer who co-founded the company with chief commercial officer Nicolas Desormeaux, CTO Thomas Quiroga and COO Erez Mathan— saw how inefficiencies were plaguing this growing industry and birthed Rooser to solve the issue

Georgia Stevenson, the Index partner who led the investment, said that they were intrigued by how successful Rooser has been so far in addressing fishing industry’s needs and building a marketplace to match that.

“It’s enabling less wastage, and its also empowering seafood traders to do their jobs better,” Georgia said. And while there have been many critics lambasting the fishing industry for overreaching in their activities, depleting stocks; and equally, the fishing industry itself seems to be increasingly bureaucratic, Stevenson said she believed that Rooser addressed both of these issues.

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