Aquaconnect raises $4 million in a pre-B funding round led by S2G Ventures.

Aquaconnect has raised $4 million (₹33 billion) in pre-B funding led by US-based S2G Ventures to expand its operations. Aquaconnect is using the funds to improve its coverage in key aquaculture producing states in India. The company recently expanded its footprint in West Bengal, Uttar Pradesh and Assam. In the last fiscal year, turnover increased 4 times.

Aquaconnect also aims to double its Aqua Partner network in the next six months, strengthening its post-harvest connectivity solutions and expanding its product portfolio with farmer-focused innovations, formal credit services and new products to expand its reach and impact. Aqua Partners are rural entrepreneurs providing last-mile assistance to farmers by providing company services including farm consultancy, availability of fodder and other agricultural inputs, and post-harvest market linkages with domestic and international buyers.

A plant-based approach

Rajamanohar Somasundaram, founder and CEO of Aquaconnect, said in a statement, “S2G’s investment furthers our mission to transform India’s aquaculture landscape through a plant-based approach. The funding comes at a critical time as we prepare for the next phase of growth to capture new opportunities with an intense focus by expanding its operations in larger markets. “This expansion is more than just an expansion. This means increasing our impact in farming communities by strengthening our network of Aqua Partners and seafood buyers, thereby creating a more sustainable ecosystem, and improving our service offering and innovative technology-based solutions to strengthen our position in the aquaculture industry.

“Aquaconnect’s end-to-end solution will transform aquaculture in India by creating reliable access to a variety of agricultural inputs, working capital financing and market trading. and improved logistics,” said Kate Danaher, CEO of S2G Ventures. “As the leading organization in the world’s second largest aquaculture market, we believe Aquaconnect is ideally positioned to capture significant market share and drive sustainable growth across the industry,” he said.

Using Artificial Intelligence, Satellite Remote Sensing

Aquaconnect raised $15 million in a Series A funding round last year from Lok Capital, Louis Dreyfus Company (LDC) Ventures, Suneight Investments, AgFunder, Omnivore, Rebright Blue Hatch and Flourish. Blue Projects. Aquaconnect pioneers the use of artificial intelligence and satellite remote sensing to bring transparency and efficiency to the aquaculture value chain. Aquaconnect also enables markets for aquaculture farmers, retailers and seafood buyers to be connected to improve access to farm inputs and post-harvest markets. Aquaconnect offers formal credit to its retail partners and seafood buyers to facilitate working capital needs and improve their business operations.

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