Chennai-based Aquaconnect, a full-stack aquaculture startup, has raised $4 million in a pre-series B funding round led by S2G Ventures. The startup aims to transform the Indian aquaculture landscape by linking fish farmers to supplies and markets. Aquaconnect will use the fresh funding to ramp up its operations, expand its footprint, shore up its tech stack, diversify its product portfolio, and double its network of partners in the next six months. The investment from S2G Ventures comes at a critical juncture as Aquaconnect gears up for its next phase of growth to capture new opportunities.
Aquaconnect’s founder and CEO, Rajamanohar Somasundaram, said, “The investment from S2G reinforces our mission of transforming the Indian aquaculture landscape. The funds come at a critical juncture as we gear up for our next phase of growth to capture new opportunities, with an intense focus on expanding our operations in major markets.” The startup claims to have scaled up its revenues by 4x in the last fiscal year and operates last-mile touchpoints, offering services such as disease diagnosis, feed recommendations, and market linkages.
India’s aquaculture market is largely unorganized, and Aquaconnect aims to change that by providing a platform for fish farmers to access supplies and markets. The startup competes with the likes of AquaExchange, Captain Fresh, and Eruvaka. AquaExchange, another Indian aquaculture startup, recently secured $6 million in its Series A funding round led by Singapore-based Aqua-Spark.
Aquaconnect’s latest funding round was backed by names such as AgFunder, Omnivore, Rebright Partners, Louis Dreyfus Company Ventures, and Suneight Investments. The startup plans to use the fresh capital to expand its operations across India and venture into new segments. Aquaconnect’s mission is to transform the Indian aquaculture landscape by providing fish farmers with the tools and resources they need to succeed. With the latest funding round, Aquaconnect is well-positioned to continue scaling its operations and expanding its footprint across India.