IoT-powered aquaculture tech platform, AquaExchange has secured $6 million in Series A funding headed by Ocean 14 Capital with involvement from current investors Endiya Partners and Accion Venture Labs.
The capital will be used to expand the business’s full-stack operation strategy, which includes procurement for harvest, agricultural finance, and farm machinery automation. The business also wants to concentrate on exporting devices to a select number of foreign markets, as reported by CXOtoday.
Founded by IITians, AquaExchange is a technology company whose goal is to use cutting edge technologies to increase efficiency and transparency throughout the aqua sector value chain.
Adding value for aqua farmers, exporters, and other stakeholders is AquaExchange’s passion.
It largely accomplishes this by employing a combination of active farmer-facing associates, an intuitive smartphone application, and a proprietary technology created utilising machine learning techniques to capture precise data at every stage of the value chain. The information gathered in this way is used to give farmers, exporters, and other stakeholders timely and useful insights.
With the help of the mobile marketplace application AquaExchange, aqua farmers can interact with suppliers of aquaculture inputs, such as hatcheries and feeds, as well as consultants and producers of aquaculture market research.