Bitcliq: Portuguese blockchain platform fishes out more than half a million funding to digitise fish trading

Bitcliq: Portuguese blockchain platform fishes out more than half a million funding to digitise fish trading

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Validating the business model, securing finance and creating a team is what all successful startups do initially. Bitcliq, a platform with blockchain technology that gathers fishing fleets and its customers has secured €600k led by Lisbon-based Indico Capital Partners. With this new investment, Bitcliq is planning to deploy its blockchain-based digital fish marketplace globally.

All you need to know about Bitcliq

Based out of blockchain platform, Bitcliq connects fishing fleets and retail buyers, enabling just in time purchase of fish the moment it is caught at sea by professional buyers such as retailers and restaurant owners.

The company uses a computing solution that combines a number of state-of-the-art hardware and software technologies for real-time data collection and processing to track the entire activity of a fishing fleet.

Promotes sustainability

Moreover, the platform promotes sustainability since it allows for complete traceability from catch location to the table which is becoming essential for an ecosystem with dwindling prospects because of illegal fishing practices and ocean pollution such as that caused by plastics.

Based out of Caldas Da Rainha, Portugal, the company has developed numerous cloud and operational efficiency projects with fishing fleets in Africa, Asia and Europe, perfecting its offering and collecting numerous international awards such as the Green Project Awards by FLAD EY (Portuguese American Foundation, Ernst & Young).

Execute buy and sell as the catch is registered on board!

Notably, the company was also invited to be part of the annual FISH2.0 Innovation Forum at Stanford University. Since it’s already operational in the key Portuguese fishing port of Peniche, it will allow all fishing fleets to connect to logistics partners and buyers and execute buy and sell orders as soon as the catch is registered on board using simple smartphones.

Pedro Manuel, founder and CEO of Bitcliq stated:

We expect this pilot to be quickly expanded to the whole country and subsequently to other major fishing ports in Europe. The way fish has been bought has not changed significantly over the past 30 years in Europe. This will surely change and we expect more efficiency and transparency by connecting market participants. Indico brings a wealth of experience in taking marketplaces globally, so we are delighted to finally bring them on board – literally.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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