Zunibal enters a new growth phase in marine technology as Nazca remains partner and Blue Earth Capital joins to back expansion.
Zunibal has entered a new phase of growth aimed at expanding its impact as a marine technology and ocean intelligence company, following the completion of an initial growth cycle alongside Nazca Capital.
The company said the new phase will focus on expanding capabilities, diversifying its business and strengthening its international presence, while continuing to build on a strong foundation in fisheries. Nazca remains Zunibal’s reference partner, with Blue Earth Capital joining to support the next stage of development.
Zunibal said the new cycle will allow it to continue investing in technology, talent and international expansion. The company is now present in more than 45 countries and has expanded its global workforce to 120 people.
During the previous growth period, Zunibal doubled its EBITDA to €12.5 million and completed three acquisitions, two of them international. These acquisitions included the addition of Cambrian Intelligence in 2023 and the acquisition of Echoview in 2025, alongside the expansion of Zunibal Asia.
The company said its experience working closely with industrial fishing fleets has driven a natural evolution of its business model. This has led to the development of advanced capabilities in connectivity, traceability, artificial intelligence, acoustics, software and marine monitoring.
Zunibal said these developments are enabling it to deliver more precise and efficient solutions to the fishing sector, while also applying its technology to new blue economy verticals such as aquaculture, oceanography, hydroacoustics and environmental monitoring.
Commenting on the new phase, Ibone Rodríguez de Pablo, chief executive officer of Zunibal, said continued backing from Nazca and the addition of Blue Earth Capital reinforce the company’s long-term vision and ambitions.
“Nazca’s continued support and the addition of a partner such as Blue Earth reinforce our long-term vision and ambition,” Rodríguez de Pablo said. “We want to apply our technological capabilities, data expertise and experience in the marine environment to new challenges within the blue economy.”
Daniel Pascual, partner at Nazca Capital, said the continuation fund demonstrates continued commitment to Zunibal and its management team. He described the company as an example of value creation through a global organic and inorganic growth strategy.
Sunit Shah, principal for private equity partnerships at Blue Earth Capital, said Zunibal sits at the intersection of technology and ocean impact. He said its devices, monitoring systems and AI-driven analytics provide tools to support more sustainable fishing practices.
Zunibal said the new phase of growth will combine organic and inorganic expansion, the development of new capabilities and team growth to reinforce its position as a leading technology platform in the marine sector.
Founded in 1995 in Derio, Bizkaia, Zunibal develops technology solutions for fishing and marine monitoring, with operations in more than 45 countries.