The Lobster Trap Company

What The Lobster Trap Company does

The Lobster Trap Company is a Nova Scotia-based hardware manufacturer that produces the LasTrap, a plastic lobster trap built from a proprietary blend of recycled fishing rope and plastic. Founded in 2017 and headquartered in Yarmouth, the company sells modular trap configurations (single, dual, triple, and quad parlor) with interchangeable parts, targeting commercial lobster fishermen in Atlantic Canada and the US East Coast.

The company commercialized its product following multi-year R&D, including material validation through Dalhousie University and in-field testing with Memorial University. Regulatory clearances from Canada's Department of Fisheries and Oceans (DFO) under a Scientific/Experimental License and from NOAA enable sales across both Canadian and US fisheries. Patents covering the design and material composition have been filed and remain pending.

Revenue is generated through direct hardware sales to individual commercial fishermen, supplemented by a distribution partnership with the Fishing Vessel Owners Association West Coast. The company offers international shipping and operates a recycling rebate program that credits customers for returning used traps. Total disclosed funding is $25,000 from Innovacorp in 2018, and commercial order-taking began in 2019, indicating the business is at an early commercial stage with limited operational scale relative to the broader North Atlantic lobster fishery.

Name

The Lobster Trap Company

Legal name

The Lobster Trap Company Ltd

Website

https://thelobstertrapcompany.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

The Lobster Trap Company, founded in 2017 in Yarmouth, Nova Scotia, manufactures the LasTrap — a modular plastic lobster trap made from recycled fishing rope and plastic — and sells it to commercial lobster fishermen across Atlantic Canada and the US East Coast.

Ownership category

akta.pro rank

Product category

Commercial Fishing Equipment

NAICS

Seafood Product Preparation and Packaging (31171), Seafood Product Preparation and Packaging (3117)

SIC

Ship & Boat Building & Repairing (3730), Miscellaneous Plastics Products (3080)

akta.pro primary industry

Fishing Vessels (Trawlers, Longliners, Purse Seiners) (IMAJADAE)

Keywords

• Plastic lobster traps
• Commercial fishing gear
• Lobster harvesting equipment
• Marine fishing supplies
• Injection molded traps

Headquarters

HQ city

Yarmouth

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Plastic Lobster Trap Sales: One-time hardware sales of custom-built plastic lobster traps (LasTrap) to commercial lobster fishermen. Traps are manufactured to customer specifications and shipped throughout the Maritimes (Canada), Eastern Seaboard (USA), and internationally. The company also offers a recycling rebate program where fishermen can return used traps for credit toward new purchases.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

The Lobster Trap Company designs, manufactures, and sells the LasTrap — a patented, custom-built plastic lobster trap engineered from proprietary high-grade injection-molded plastic with traditional netting internals. The trap targets commercial lobster fishermen in Atlantic Canada and the US Eastern Seaboard and is offered in multiple configurations (Single Parlour, Double Parlour, Double Ender, Off-Set Entrances, 3-Fish-Way) built to each fisherman's specifications. The company also operates a recycling rebate program that accepts used traps for credit toward new purchases.

Product overview

The Lobster Trap Company offers a single unified product: the LasTrap, an innovative plastic lobster trap designed for the Atlantic Provinces of Canada and the Eastern Seaboard of the United States. The LasTrap is a custom-built trap available in multiple configurations (Single Parlour, Double Parlour, Double Ender, Off-Set Entrances, and 3-Fish-Way option) to meet regional fishing preferences. The product is manufactured in Yarmouth, Nova Scotia and ships throughout the Maritimes, Eastern Seaboard, and internationally. A recycling rebate program is offered for returned used traps.

Differentiator

Problem solved

Functional benefit

Brands

• LasTrap: The 21st Century Lobster Trap - an innovative plastic lobster trap product line featuring self-righting capability, stackability, and recyclable materials.

Products and services

• LasTrap Plastic Lobster Trap A patented, custom-built plastic lobster trap manufactured from proprietary high-grade injection-molded plastic with traditional netting internals (heads and funnels), engineered for commercial lobster fishermen operating in Atlantic Canada and the US Eastern Seaboard. Features include self-righting capability, stackable/nestable design, lower center of gravity, seal-proof latches, ballast-weight accommodation, recyclability, and configurable entrance styles (Single Parlour, Double Parlour, Double Ender, Off-Set Entrances, 3-Fish-Way). Meets or exceeds NOAA (US) and DFO (Canada) regulations, including two escape openings where one is required.

Quantifiable outcome

• Minimum 10-year lifespan under normal use, potentially 20 years with proper care - doubling the lifespan of traditional wire traps
• +2 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Three partnerships are on record, tiered core.

• Dalhousie University - Department of Mechanical EngineeringcoreStrategic or Co-development Partner · 1 January 2017First collaborated with The Lobster Trap Company in 2017 with support from Nova Scotia Business Inc's Productivity and Innovation Voucher Program. Dalhousie undertook a design review of the plastic lobster trap with focus on design optimization for injection molding process. Performed plastic flow analysis of key components and general design review for weight/wall thickness. Produced rapid prototypes to demonstrate potential design changes. This collaboration provided significant advantages through design optimization for injection molding.
• Memorial University - Fisheries and Marine InstitutecoreStrategic or Co-development PartnerConducted small-scale pilot study to compare catching performance of LasTrap against traditional wire traps in Newfoundland waters. Provided marine biologist oversight and conducted flume tank testing (largest in the world) to test trap behavior in various launch positions (upright, side, end, upside-down). Introduced dye into water to highlight bait flume and water flow through trap. Filmed all scenarios demonstrating self-righting capability.
• Department of Fisheries and Oceans (DFO) CanadacoreStrategic or Co-development PartnerIssued Scientific/Experimental Lobster Fishing Licence for field-testing, providing full support for the company's initial field testing program in 2017. This regulatory partnership enabled like-for-like testing comparing plastic traps to wire traps in real fishing conditions.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Pure Fishing: One of the largest global fishing tackle and gear companies, with a broad portfolio spanning freshwater, saltwater, and commercial-adjacent gear. Comparable to The Lobster Trap Company as a scaled fishing-equipment manufacturer, but Pure Fishing does not specialize in lobster traps.
• Shimano: Global leader in fishing tackle, reels, and rods with deep commercial-fishing adjacencies. Comparable as a large, branded fishing-gear incumbent with the engineering and distribution scale that The Lobster Trap Company lacks, though Shimano does not produce lobster traps.
• Rapala VMC: Publicly listed fishing tackle and lure company with worldwide distribution. Comparable as a fishing-gear incumbent that could expand into traps, but its core focus is recreational rather than commercial lobster gear.
• Akva Group: Norwegian public company supplying equipment and technology to the global aquaculture and commercial fishing industries. Comparable as a specialized commercial-marine equipment manufacturer serving protein-harvesting fleets, with a similar product-plus-services model.
• Steinsvik Group: Norwegian supplier of equipment and technology to commercial fisheries and aquaculture. Comparable as an established commercial-fishing gear specialist; serves as a relevant incumbent benchmark for The Lobster Trap Company's go-to-market in Europe.

Direct peers

• Garware Technical Fibres: Indian manufacturer of technical textiles and netting used in commercial fishing, aquaculture, and marine applications. Directly comparable as a supplier of innovative fiber-based and polymer-based components into commercial fishing gear supply chains.
• Hampidjan: Icelandic manufacturer of advanced ropes, netting, and trawl gear for commercial fisheries. Directly comparable as an innovative commercial-fishing-gear manufacturer selling into harsh-environment fleets, similar to The Lobster Trap Company's Atlantic-lobster customer base.
• Grundéns: US-based supplier of commercial fishing gear, apparel, and protective equipment. Directly comparable as a commercial-fishing-focused gear company with a similar SMB fisherman customer base in North America.
• Mustad Autoline: Norwegian manufacturer of fishing hooks, autoline systems, and commercial fishing gear used in wild-capture fisheries. Comparable as a long-standing commercial-fishing equipment manufacturer with global reach, though Mustad's focus is hooks and lines rather than traps.

Emerging players

• Fusion Marine: UK-based designer and manufacturer of plastic and composite products for the marine and aquaculture industries. Comparable as a plastics-engineering specialist serving commercial marine customers, with a similar focus on durable, lightweight polymer products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/TheLobsterTrapCompany

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Lobster Trap Company