AquaExchange, an aquaculture technology and fintech startup, has raised USD 6 million from investors for expansion.
In a statement, the company said it has raised the amount in Series A funding led by Ocean 14 Capital with participation from existing investors including Endiya Partners and Accion Venture Labs.
Headquartered in Vijayawada (Andhra Pradesh), AquaExchange is helping transform aquaculture through technology.
The company leverages its technology to increase crop yields, mitigate crop risks and combat rising input costs. Their devices enable farm automation and improve crop visibility for lenders and customers leading to premium prices and reduced costs for farmers.
The fund will be used to scale adoption of the company’s full-stack business model including farm automation, crop financing and harvest procurement. The company also plans to focus their efforts on a few international markets for device exports.
Pavan Kosaraju, Founder of Aqua Exchange, said this round of funding strengthens the company’s position as leaders in the aquaculture technology and fintech sectors.
"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, emphasizing our commitment to sustainable practices in the industry," Kosaraju said.
With this funding round, he said the company aims to equip many more aquaculture farmers with the right technology to reduce costs and increase productivity while enabling global protein sustainability.