PanaSea

PanaSea, the only commercial tropical sea cucumber hatchery in the Western Hemisphere, selling sea cucumbers, a delicacy directly to the $16bn Chinese market.

  • Stage Product In Development
  • Industry Marine
  • Location Panama
  • Currency USD
  • Founded October 2018
  • Employees 25
  • Incorporation Type Other
  • Website panasea.io

Company Summary

PanaSea is the only commercial sea cucumber hatchery in the Western Hemisphere, with annual harvests to be sold directly to the $16bn Chinese market. Sea Cucumbers are delicacy amongst the middle class in China which has increased by 200 million in the past decade and is set to double again this decade. As a result, the market demand has exploded, wiping out sea cucumber populations worldwide and driving prices upwards.

Team

  • I have spent the last 10 years launching and leading two ventures in Central America: Maderas Village Boutique Hotel and Maderas Collective Furniture. Both businesses focus on sustainability while connecting local expertise with international companies including Vice Media, WeWork, Ace  Hotels, the Four Seasons, and Walmart. In 2012, I began processing and exporting sea cucumbers from Latin America to Asia.

  • Dr. Beni Giraspy Daniel Azari
    Chief Science Officer

    Recognized as the foremost expert in commercial sea cucumber development in the world, Dr. Giraspy has successfully developed and launched six production facilities in the last 20 years in Fiji, the Philippines, Australia, Saudi Arabia, the Maldives, and India. In his role as manager of these hatcheries, he has produced tens of millions of sea cucumbers.

  • Operations Manager

    With over 17 years in aquaculture, Daniel has managed operations, from the pilot phase through commercial expansion, of the two largest marine fish aquaculture operations in Central America - Martec and Open Blue. Daniel has been working closely with Dr. Beni Giraspy in order to implement the technical program in our Pilot Hatchery.

  • Senior Scientist

    Luis has spent the past 8 years studying integrated aquaculture with a focus on the species of sea cucumber I. Badionotus.He is the foremost expert on this highly marketable species spawning and growth patterns. In preparation for the coming spawning season, Luis has designed care and feeding protocols for maintenance of the broodstock (the parent animals that produce the eggs and sperm).

  • Valerio De Sanctis
    Principal

    Valerio has led the fishing industry in Panama for the past 30 years as the owner of the Panalang Union Group. President of the Fish Exporters Chamber of Commerce and an elected board member of the Panama Water Resources Authority. With extensive experience working with the government helped change Panamanian law to allow for sustainable development of sea cucumber aquaculture. The current administration issued PanaSea the first, and only, permit.

Advisors

Previous Investors

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