Chennai-based Aqgromalin, an agtech platform for animal husbandry and aquaculture ecosystem, has raised $5.25 million in pre-series A funding from Sequoia Capital India’s Surge and Venture funds, Omnivore Partners and Zephyr Peacock.
Aqgromalin is building a full-stack agtech platform that helps farmers diversify into animal husbandry and aquaculture. Aqgromalin provides a data-backed, traceable, supply chain to farmers, butchers, meat companies and exporters for their poultry, seafood and livestock needs. The start-up has recorded a 10 X revenue growth in the last 6 months, and has over 300,000 farmers and micro-entrepreneurs on their platform.
“Animal Husbandry and aquaculture are highly fragmented and underserved sectors in the Indian agricultural landscape. As part of the fund acquisition, we look forward to expanding our operations and helping farmers overcome the challenges of limited availability of quality live inputs, and lack of access to markets,” said Aqgromalin co-founders Bharani CL and Prasanna Manogaran in a statement.
In India, animal husbandry and aquaculture farmers find it difficult to find a consistent source and secure timely delivery of quality live input materials for their farm. Traders, butchers and exporters face a similar problem at the other end of the equation: a lack of consistent, quality supply of a variety of animal products. The entire value chain is plagued by supply chain disruptions resulting in unpredictable incomes for stakeholders.
Aqgromalin tackles these hurdles by integrating the grower and trader ecosystems on their technology platform, AQAI. The AQAI platform enables farmers to access quality inputs delivered to the farm-gate, giving them a wider choice of species, and transparent pricing. On the downstream, the platform enables the animal trade ecosystem to source a wide variety of animal produce with reliable supply and consistent quality. Through AQAI, Aqgromalin offers end-to-end traceability of the produce to downstream partners.