Supplier's News

Independent investor becomes Norwegian software developer’s largest owner

Bluefront Equity invests in Naviaq AS, which supplies software solutions for fish farmers.

October 20, 2022

Bluefront Equity, which invests in companies with products, services, and technology that contribute towards a more sustainable value chain for seafood, has become Naviaq’s largest owner with a shareholding of over 50%. Moreover, Naviaq’s board will be strengthened with the entering of Bluefront’s partner Simen Landmark and two additional members.

Headquartered in Trondheim and operating in Norway and Iceland, Naviaq supplies software solutions that standardize, safeguard and streamline workflows for fish farmers as well as service and wellboat operators. The company expects to double its income and reach NOK 11 million (1.04 USD million) in 2022. SalMar Farming and the services companies Frøy and AQS are Naviaq customers. They use Naviaq’s operations and maintenance systems as well as operation management systems for service vessels.

“We look forward to cooperating with Bluefront to further develop Naviaq as a leading software company in the aquaculture industry,” said Ivar Strand, Naviaq’s chairman. “Naviaq has developed fantastic software which contributes towards making the aquaculture industry more data-driven, efficient, and sustainable. We believe that the demand for their solutions will increase considerably in the future. That is why we are investing in the company.”

“We have effectively developed a tool that provides a full overview of operations, maintenance, assets, logistics, technical data, equipment, time-use, resources, competence, and environmental data. Our systems make it significantly easier for industry players to comply with NYTEK23, when the regulation takes effect on 1 January 2023,” said Lisbeth Plassen, managing director of Naviaq. “We have spent seven years developing today’s systems, which both we and our customers are very satisfied with. Going forward, we will spend more time and energy on making the systems known in the aquaculture industry, both in Norway and internationally. That means hiring more skilled colleagues going forward.”