AquaExchange, an aquaculture technology and fintech start-up, has raised $6 million in Series A funding led by Ocean 14 Capital with participation from existing investors including Endiya Partners and Accion Venture Lab. 

Based out of Vijayawada (Andhra Pradesh), the start-up leverages technology to increase crop yields, mitigate crop risks and combat rising input costs. According to the company, its devices enable farm automation and improve crop visibility for lenders and customers, leading to premium prices and reduced costs for farmers.

To scale adoption

Its current product portfolio includes novel power management (PowerMon) and feed automation (AquaBot) devices. The funds will be used to scale adoption of the company’s full-stack business model, including farm automation, crop financing, and harvest procurement. Moreover, it also plans to launch its devices in a few international markets.

“We plan to refine and scale our unique reinforcement framework, wherein farmers are immediately incentivized for sustainable practices through reduced input costs and higher offtake prices, emphasizing our commitment to sustainable practices in the industry,” said Pavan Kosaraju, Founder of Aqua Exchange.

Piers Lakin, Senior Associate at Ocean 14 Capital, highlighted the company’s success in deploying technology to enhance data, insights, and control for customers while offering a comprehensive solution for inputs, offtake, and finance.

Ramesh Byrapaneni, Managing Director of Endiya Partners, sees the start-up as a compelling investment in the evolving aquaculture landscape. The company’s advanced technologies not only boost farm profitability but also provide valuable market intelligence and robust credit models, he added.

Related Topics
comment COMMENT NOW