AquaExchange Bags USD 6 Million in Series A Funding Led by Ocean 14 Capital Previously, it raised Pre-Series A funding worth USD three million from Endiya Partners and Accion Venture Lab in 2022
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Vijayvada-based aquaculture technology startup AquaExchange announced it had raised USD six million in a Series A funding round. The round was led by Ocean 14 Capital and saw participation from Endiya Partners and Accion Venture Labs.
"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, emphasising our commitment to sustainable practices in the industry," said Pavan Kosaraju, Founder, AquaExchange.
Founded in 2020, the aquatech startup is a marketplace mobile app for connecting Aqua Farmers with aquaculture input providers like hatcheries, feeds, etc. and aquaculture market research providers and consultants.
"In a short period of time the company managed to deploy technology across a significant part of the Indian aquaculture landscape, both helping to deliver the data, insights and control that can help stabilise customers production while also developing an end-to-end solution providing access to inputs, offtake and finance," noted Piers Lakin, Senior Associate, Ocean 14 Capital on the occasion.
The startup aims to utilise the raised capital to refine and scale its unique reinforcement framework. AquaExchange further plans to introduce its devices in international markets.
Previously, it raised Pre-Series A funding worth USD three million from Endiya Partners and Accion Venture Lab in 2022.