Hook, line, and AI: Oslo’s Catchwise bags €1.25M for smart fishing

Oslo-based Catchwise, a company that’s modernising the wild fishery industry through modern technology and advanced AI, has secured €1.25M in a pre-seed funding round.

The round was led by Dreamcraft Ventures, followed by Sondo and Ocean Impact.  

Based in Copenhagen, Dreamcraft Ventures invests in pre-seed and seed-stage B2B software companies in the Nordics and Europe. Dreamcraft has raised two funds and its portfolio companies include Telescope, AirHelp, Hakio, and Baller League.

“The Catchwise team brings unparalleled expertise and innovation to solving the commercial fishing industry’s most pressing challenges. By harnessing AI and data-driven technology, they are transforming fishing practices for a more efficient, cost-effective, and sustainable future. Their cutting-edge solution is already delivering increased catch efficiency, reduced operational costs, and a lower carbon footprint—ushering in a new era for the industry,” says Daniel Mariussen, Dreamcraft Ventures.

Additionally, several angel investors with strong startup backgrounds at companies such as Oda, Enode, and Meltwater, participated in the funding round.  

The company will use the funds to develop its platform designed to optimise fishing routes, reduce fuel consumption, and advance sustainable fishing.

“This funding milestone is a key enabler for us to lean in and give the fishing industry the modern software they deserve, as well as a nod from the international investment community that there is significant value to be created here,” says Ludvig Løddesøl, CFO and co-founder of Catchwise.

Catchwise: Transforming wild fisheries

Catchwise was founded by Ludvig A. Løddesøl, Tomas Roaldsnes, Jonas Dammen, Kristian Andersen Hole, and Åsmund Brekke.

Their platform combines SAT-AIS (Satellite Automatic Identification System) data, years of fishing insights, and ocean metrics to help fishery companies and captains improve their routes and operations. This approach reduces search time, fuel use, and CO2 emissions.

The company promises to significantly reduce search time—and eventually cut fuel consumption by up to 50 per cent. 

Currently, the platform supports over 50 vessels daily and serves 20 paying customers, who together manage more than 50 fishing vessels.