Chennai-based Aquaconnect raised $15 million in a Series A funding round led by Lok Capital. Louis Dreyfus Company Ventures, Suneight Investments; Existing investors Omnivore, Rebright Partners, Flourish Ventures & HATCH, and other debt investments also participated in the funding round.
The business will make better use of the money by expanding its service offerings and strengthening its portfolio in the pre-harvest and post-harvest aquaculture value chains, as per reported by Inc42.
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“Next 12-18 months will be challenging and exciting at the same time. The fresh funds will help us to accelerate our efforts and strengthen tech capabilities and bring efficiency and transparency in the aquaculture value chain,” said Aquaconnect’s chief executive officer and founder Rajamanohar Somasundaram.
Aquaconnect, a full-stack platform founded in 2017 by Rajamanohar Somasundaram, assists aquaculture farmers in increasing their income through the use of innovative farm management technologies. Aquaconnect asserts that through its deeptech solutions and integrated finance services, it can scale the companies of its clients and boost the whole aquaculture value chain.
Lok Capital partner Hari Krishnan, said, “Aquaconnect, with its deep-tech intervention, has the potential to disrupt the Indian aquaculture value chain and emerge as a key player in the growing blue food segment. We are excited to be a part of Aquaconnect’s growth, while it chases its aspiring goals and scales its operations in the domestic and global markets.”
About Aquaconnect
Aquaconnect is a full-stack aquaculture platform with embedded fintech that uses satellite remote sensing and artificial intelligence to enable aquaculture farmers, retailers, and seafood buyers to increase their access to formal credit, agricultural inputs, and post-harvest markets. Aquaconnect was established in the year 2017 located in Chennai.
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