AquaExchange Raises $6M in Series A Funding Round to Expand Aquaculture Technology Platform

by Fishery News

Hyderabad-based aquaculture startup, AquaExchange, has successfully secured $6 million in its Series A funding round led by London-based private equity firm Ocean 14, with participation from existing investors Endiya Partners and Accion Venture Labs. The funds will be utilized to scale up the adoption of AquaExchange’s platform and explore opportunities in select international markets for exports.

Founded in 2020 by Pavan Kosaraju, AquaExchange specializes in full-stack aquaculture solutions, offering Internet of Things (IoT)-powered feed automation and power management devices controlled by farmers through a mobile app. The startup also operates a marketplace for aqua farmers, facilitating seed, feed, and product deliveries, providing a platform for manufacturers to showcase their products and enabling processors to connect with farmers for procurement.

Pavan Kosaraju, CEO of AquaExchange, expressed that the funding round strengthens their position as leaders in aquaculture technology and fintech. The goal is to equip more aquaculture farmers with technology to enhance productivity, reduce costs, and contribute to global protein sustainability.

Piers Lakin, Senior Associate at Ocean 14 Capital, commended AquaExchange’s rapid growth, noting its deployment of technology across a significant portion of India’s aquaculture landscape. The startup claims to have automated over 10% of all shrimp farms in India, covering thousands of acres.

India’s aquaculture sector, with fish and shrimp as major species, recorded shrimp production of 9 lakh tonnes in 2022 and fish production of 131.13 lakh tonnes in FY23. With rising consumer demand and seafood exports, the country’s aquaculture industry is poised to reach a market size of $29.37 billion by 2028. This growth presents opportunities for startups like AquaExchange to leverage technology for streamlined procurement, informed decision-making, and predicting market trends.

Hyderabad-based aquaculture startup, AquaExchange, has successfully secured $6 million in its Series A funding round led by London-based private equity firm Ocean 14, with participation from existing investors Endiya Partners and Accion Venture Labs. The funds will be utilized to scale up the adoption of AquaExchange’s platform and explore opportunities in select international markets for exports.

Founded in 2020 by Pavan Kosaraju, AquaExchange specializes in full-stack aquaculture solutions, offering Internet of Things (IoT)-powered feed automation and power management devices controlled by farmers through a mobile app. The startup also operates a marketplace for aqua farmers, facilitating seed, feed, and product deliveries, providing a platform for manufacturers to showcase their products and enabling processors to connect with farmers for procurement.

Pavan Kosaraju, CEO of AquaExchange, expressed that the funding round strengthens their position as leaders in aquaculture technology and fintech. The goal is to equip more aquaculture farmers with technology to enhance productivity, reduce costs, and contribute to global protein sustainability.

Piers Lakin, Senior Associate at Ocean 14 Capital, commended AquaExchange’s rapid growth, noting its deployment of technology across a significant portion of India’s aquaculture landscape. The startup claims to have automated over 10% of all shrimp farms in India, covering thousands of acres.

India’s aquaculture sector, with fish and shrimp as major species, recorded shrimp production of 9 lakh tonnes in 2022 and fish production of 131.13 lakh tonnes in FY23. With rising consumer demand and seafood exports, the country’s aquaculture industry is poised to reach a market size of $29.37 billion by 2028. This growth presents opportunities for startups like AquaExchange to leverage technology for streamlined procurement, informed decision-making, and predicting market trends.

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