Full-stack aquaculture platform, Aquaconnect has raised $15 million (INR 120 crore) in a Series A funding round led by Lok Capital. The funding round also saw participation from Louis Dreyfus Company Ventures, Suneight Investment. Existing investors including Omnivore, Rebright Partners, Flourish Ventures, and HATCH also participated in this funding round.
The fresh funds will be used to strengthen Aquaconnect’s portfolio of scalable solutions. The company uses AI and Satellite remote sensing to offer pre-harvest and post-harvest aquaculture services. The company now plans to accelerate seafood exports to the top import markets like the US, China and Japan. Aquaconnect will also triple its AquaPartners’ network to grow stronger in the pre-harvest chain.
Commenting on the Series A fund round, Rajamanohar Somasundaram, Founder & CEO Aquaconnect, said, “We’ve added about 500 AquaPartners in the last 12 months and this phygital network has helped us scale phenomenally across 6 major aquaculture production states. In the next 12 months, we are set to triple our AquaPartners’ network across India and optimize our service offerings.”
Aquaconnect raised $4 million in pre-Series A round from Rebright, Flourish ventures, and AgFunder in July last year. The company was founded by Rajamanohar Somasundaram back in 2017.
Lok Capital has been investing in India since 2007 and has already invested over 250m USD so far across three funds.
