Catchwise Secures €1.25M to Advance AI in Commercial Fishing
Norwegian startup Catchwise has raised €1.25M in pre-seed funding to expand its AI-based platform for optimizing fishing operations and reducing fuel usage.
Elena Whitmore 
Investment Targets Efficiency and Sustainability
Catchwise, a Norway-based startup developing artificial intelligence tools for the fishing industry, has completed a €1.25 million pre-seed funding round. The round was led by Dreamcraft Ventures, with additional backing from Sondo, Ocean Impact, and angel investors affiliated with companies such as Oda, Enode, and Meltwater.
The funding will be used to further develop the company's AI-driven maritime analytics platform, which is already in use by more than 50 commercial fishing vessels. The software aims to increase efficiency by reducing the amount of time ships spend searching for fish, ultimately cutting operational costs and minimizing fuel consumption.
Software-Based Approach to Fuel Reduction
Fishing vessels often spend days or weeks at sea locating optimal fishing zones, a process that consumes significant amounts of fuel. Traditionally, improvements in fuel efficiency have relied on physical upgrades to vessels, which come with high costs and limited impact.
Catchwise takes a different approach. Its platform combines SAT-AIS (satellite automatic identification systems), over 20 years of historical fishery data, and real-time ocean conditions such as water temperature and salinity. This data is then processed by AI algorithms to help captains make more informed decisions about where and when to fish. According to the company, this can result in fuel savings of up to 50%.
Expanding Along Norway's Coastline and Beyond
The startup plans to use the fresh capital to enhance its predictive modeling capabilities and provide deeper operational insights for its users. Part of the investment will also support the company's geographic expansion, especially along Norway’s coastal regions and potentially into international markets.
Founded in 2023 by Ludvig A. Loddesol, Tomas Roaldsnes, Jonas Dammen, Kristian Andersen Hole, and Asmund Brekke, Catchwise officially launched operations in March 2024. Its main office is located in Oslo, with additional offices in Alesund and other key fishing hubs.
The company was formed following its team’s success in the 2022 FishAI: Sustainable Commercial Fishing competition, which laid the foundation for its focus on combining fishing expertise with data science and AI.
Investors Signal Confidence in AI-Led Fisheries
The involvement of multiple tech-focused investors suggests growing interest in applying advanced analytics to traditional sectors. Daniel Mariussen of Dreamcraft Ventures stated, “The Catchwise team combines exceptional industry knowledge with deep expertise in data and AI.”
Henrik Hatlebrekke from Sondo also emphasized alignment between the startup's goals and the firm’s investment philosophy, noting that Catchwise aims to "transform the entire fishing industry by making it fully data-driven and sustainable."
With this funding, the company appears well-positioned to continue developing technologies that address both the operational and environmental challenges faced by commercial fisheries.
