SafetyNet Technologies
Issuer: SafetyNet Technologies
SafetyNet Technologies
SafetyNet Technologies
SafetyNet Technologies
SafetyNet Technologies
SafetyNet Technologies

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SafetyNet Technologies
Issuer: SafetyNet Technologies

SafetyNet Technologies (SNTech) is a UK-based SME that designs and builds trusted and valued solutions that enable sustainable Precision Fishing practices in the fishing industry.

 

Customer Problem

Overfishing and bycatch are huge global problems with few proven solutions. Between 8 and 25% of the total global fisheries catch is discarded each year due to a technical inability to accurately target and catch the right fish, at a cost of $6.6bn per annum. New regulations punish fishing crews, vessel owners and suppliers for catching non-selectively, levying fines or removing fishing rights. SNTech provides Precision Fishing tools that enable fishing industry stakeholders, large and small, to Observe, Measure and Respond to changes in the ocean, protecting the environment and their bottom line.

Products/Services

SNTech's products are built with fishermen, for fishermen.

Pisces

  • SNTech's first market-ready product is Pisces - a simple to use, affordable, LED light emitting device that retrofits onto any existing fishing nets. It helps fishermen attract the size and species of fish they’re licensed to catch while repelling non-target species, acting like an emergency escape sign. A standard-sized fishing net uses around 10 Pisces lights (1 kit). SNTech has progressed the secret science behind Pisces for 10 years, with leading academic partners (NOAA, ICES), building a proprietary database of 60+ marine species’ responses to light, enabling optimal Pisces deployment.

Enki

  • Net-mounted oceanographic sensor with ocean-to-server communications chain and data dashboard. Enki allows fishing crews to compare ocean conditions with catch composition, enabling data-led decision making. In the longer term, SNTech is working to make this oceanic data available to scientific, and other, communities, scaling up ocean data collection by harnessing commercial fishing vessels as scientific vessels of opportunity.

CatchCam

  • Net-mounted camera for vessels to observe and improve the fishing gear (lights, geometry), and see what is going on during the catch-process. Cameras will use onboard AI to send insights to the crew as fishing ocurs, with the ability to download video data once the catch is hauled in to the vessel.

 

 

TAM/SAM

Pisces: TAM - $4.1bn SAM - $1.2bn

Data: TAM - $12.9bn SAM - $12.9bn

Fishing Industry: $241bn

 

Business Model

Pisces is provided to fishing crews as a Hardware-as-a-Service model (2 year subscription + science support + maintenance contract).

Fishing data will be provided as a Data-as-a-Service model (online portal).

 

Go To Market

SNTech sells to vessel owners and fleet managers in the fishing supply chain in order to outfit multiple vessels at a time. Sales cycles average 3-6mo, depending on company size and deal complexity. Our recent senior hire, Tom Rossiter, has connected us with high priority customers (vessel owners (Clearwater, MacDuff)), fish processors (Whitby, Youngs), retailers (Tesco, Marks & Spencer)).

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