An IoT-powered Aquaculture Tech Platform, AquaExchange has raised $6M in Series A Funding Round led by Ocean 14 Capital and participation from existing investors including Endiya Partners and Accion Venture Lab.
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With the funding, AquaExchange will expand the usage of its agricultural finance, harvest procurement, and full-stack farm automation technologies. Additionally, the business plans to export its devices to foreign markets.
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“We plan to refine and scale our unique reinforcement framework, wherein farmers are immediately incentivised for sustainable practices through reduced input costs and higher offtake prices, emphasising our commitment to sustainable practices in the industry,” Pavan Kosaraju, Founder of Aqua Exchange said.
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“We are really impressed and excited by the speed of growth of AquaExchange. In a short period of time the company managed to deploy technology across a significant part of the Indian aquaculture landscape, both helping to deliver the data, insights and control that can help stabilise customers production while also developing an end-to-end solution providing access to inputs, offtake and finance,” Piers Lakin, Senior Associate of Ocean 14 Capital, said.
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“Their devices have been deployed across thousands of acres in India and have also seen traction in international markets. We’re thrilled to back AquaExchange’s progress, and the team which is driven by the passion to enable competitive, profitable and sustainable aquaculture,” Dr Ramesh Byrapaneni, Managing Director of Endiya Partners said.
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About AquaExchange
Founded in 2020, AquaExchange aims to bring transparency, efficiency and enhanced yield through innovative ideas and practices across the value chain in Aqua sector comprising of shrimp and fish farming. AquaExchange is marketplace mobile app for connecting Aqua Farmers with aquaculture input providers like hatcheries, feeds, etc. and also the aquaculture market research providers and consultants.
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AquaExchange provide full stack services to aquaculture farmers through affordable IoT solutions to reduce crop expenses, Crop finance, Input Procurement and Harvest Facilitation.
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