Dhaka: Seaqua, a Dhaka-based blue-tech startup, has made a significant stride in Bangladesh’s fisheries and aquaculture sector by securing a substantial USD 6-figure investment from influential Middle East investors. While the exact figure and investor details remain undisclosed, Seaqua’s strategic move signals a paradigm shift in the industry.
Amirul Mostafa Arefeen, Founder & CEO of Seaqua, envisions a climate-smart approach to fisheries and aquaculture. The company introduces an innovative value chain that minimizes wastage and enhances efficiency at every stage. Leveraging cutting-edge technology, Seaqua aims to eliminate traditional inefficiencies, providing fisheries and aquaculture producers with a modern and dynamic approach.
The fisheries sector in Bangladesh makes an exceptional 3.61% contribution to the country’s GDP, boasting a $600 million export market as of 2022. With a total contribution of $9.42 billion to the national GDP, the sector meets 60% of the country’s annual protein needs and sustains over 12% of the population.
Seaqua strategically positions itself to capitalize on the lucrative market, aligning its approach with the global seafood market’s projected growth of $730 billion by 2030. A key feature of Seaqua’s tech-forward strategy is the integration of real-time catch records into its supply chain. This data-driven approach not only provides retailers with accurate, up-to-the-minute information but also reshapes the seafood market by ensuring a constant flow of high-quality products with traceability.
With the fresh capital injection, Seaqua aims to revolutionize the fisheries and aquaculture industry both environmentally and economically. The company’s adoption of blockchain technology for traceability not only addresses blue finance gaps but also ensures a verifiable commitment to compliance, offering a comprehensive solution to the challenges faced by the sector.
