Aquaculture Startup Aquaconnect Raises Funding $4M In Pre-Series A Round Led By Rebright Partners, Others
- BySheetal Sidhu | July 13, 2021
Chennai-based aqua farmers’ network Aquaconnect on Tuesday announced it raised $4 million (Rs 29.7 crore) in a pre-Series A round led by Rebright Partners and Flourish Ventures. AgFunder and 6G Capital also participated in this round, along with existing investors Omnivore and HATCH. The startup will use the funds to strengthen its GIS-enabled fintech product development and accelerate the volume of exports flowing through the platform.
Rajamanohar “Raj” Somasundaram, Founder and CEO of Aquaconnect, said, “The recent investment is a strong validation of our goal to become India’s largest aquaculture value chain aggregator, and will help us scale up in both size and scope. We will deploy the fresh capital to scale our farm advisory, financial services, and marketplace for seafood exports.”
Aquaconnect’s mobile app features predictive SaaS tools for pond management, which improves productivity and help farmers avoid disease risks. This farm data intelligence is leveraged by Aquaconnect’s omnichannel marketplace, allowing farmers to transact directly with farm input manufacturers, banks, insurance companies, and certification bodies. Further, Brij Singh, General Partner of Rebright Partners, said, “We are backing Aquaconnect to help enable digital transformation in India’s aquaculture industry by supporting all stakeholders to increase exports of high-quality seafood with traceability to key markets like Japan.”
Follow Startup Story
Related Posts
