Right now, VCs are looking upwards. They have their eyes trained on the spacetech market; a dynamic, high-potential sector projected to be worth over $1 trillion by 2030. Startups like ICEYE, Space Forge and D-Orbit are the literal moon shots: undertaking mind-boggling briefs to unlock realms of new potential. The 21st century space race is well and truly underway, and exploring its potential as an area for investment is a topic we will likely cover in more depth in future posts. But while space exploration is firmly at the heart of the conversation right now, there’s an area much closer to home which may present equally attractive opportunities for discovery. The ocean.
The ocean is fundamental to sustaining life on Earth. It produces 50% of the oxygen we breathe, absorbs roughly 25% of global carbon emissions, and captures 90% of the excess heat generated by those emissions. It also holds 97% of the world’s water and is home to 94% of our planet’s wildlife. More than 3 billion people rely on wild and farmed seafood as a key source of sustenance.
And yet, despite covering approximately 70% of our planet, the ocean remains a relatively unexplored and poorly understood ecosystem. As of June 2024, just 26% of the seafloor had been mapped, and scientists estimate that nearly two-thirds of marine species are yet to be discovered.
Though it is often taken for granted, we cannot underestimate the extent to which our lives and livelihoods depend on a thriving marine ecosystem. Almost 90% of the world’s trade relies on goods being transported by sea, and the ocean economy is already worth around $1.5 trillion a year - a figure predicted to double to $3 trillion by 2030.
This represents a massive, unmissable opportunity for founders and VCs alike. If innovative entrepreneurs are given the right support from investors, this vast and largely untapped resource can offer technological solutions to some of the world’s most pressing issues. From fighting food insecurity, to discovering sustainable new materials and mitigating our impact on the environment, oceanography has a critical role to play in shaping our planet’s future.
One of the areas I'm most intrigued by in this space is aquaculture: the underwater farming of organisms ranging from fish to algae, and everything in between. The ocean is an incredibly fertile and nutrient-rich environment, but our engagement with it has historically been dominated by destructive practices like overfishing and dredging on the seabed. Sustainable aquaculture presents an opportunity to recalibrate this relationship - harnessing the ocean’s potential while preserving and supporting marine ecosystems.
With climate change and population growth posing an ever-increasing threat to our food security, developing new ways to cultivate food sustainably could be crucial to our survival. Seaweed, for instance, is relatively high in protein, and contains a host of micronutrients such as vitamin B12 and omega-3. Beyond this, it requires no farmland, no fertiliser, no irrigation and no harmful pesticides to produce. Seaweed can also absorb greenhouse gasses such as CO2, meaning embracing it as a staple of our diets has the potential to drastically reduce the carbon footprint of the global food system. With the pressure to find sustainable alternatives to carbon-intensive products like red meat and soy increasing, aquaculture will have a vital role to play.
Beyond aquaculture, I’ve also seen interesting developments in areas such as green shipping technologies, wave power generation, and ocean-based carbon sequestration, all of which represent fertile ground for innovation. Advances in these fields could redefine everything from international trade to energy production.
Oceanography is, of course, an incredibly capital-intensive industry, with the unique challenge of developing technology which is strong enough to operate in the harsh marine environment. However, given the urgent need for new, sustainable solutions to address the problems of food insecurity, resource scarcity and the climate crisis, it seems clear to me that investing in this space offers VCs the opportunity to generate rapid, radical change.
For Ada, investing in so-called “BlueTech” is a natural extension of our climate equity thesis. We’re committed to identifying and supporting the founders developing products which have the potential to transform industry and consumer behaviour and tackle the climate crisis head on. BlueTech aligns perfectly with this mission. By leveraging cutting-edge technology to drive sustainable growth in the ocean economy, we have the opportunity to drive tangible, positive change.
Moreover, we’re proud of our strong track record when it comes to backing and collaborating with founders who have a background in STEM, and we’re eager to build on this going forward. One in four founders in our portfolio has a PhD in a STEM subject, and we are always eager to work alongside people who are genuine experts in their fields.
We want to understand the science behind your innovations, and we’re ready to support visionary entrepreneurs creating groundbreaking solutions to leverage the ocean’s untapped potential.
If you’re building a game-changing product in this space, please get in touch. We’d love to hear from founders who have the right combination of real expertise, scalable tech and breakthrough ideas.
