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Agritech startup AquaExchange raises $8-M

Business World   AquaExchange  

Vijayawada-based AquaExchange has raised USD 8 million in a Series B funding round co-led by Endiya Partners and Factor Analytics, with participation from existing investor Accion Ventures and Ocean 14 Capital.Founded by Pavan Kosaraju, Hemasundar Dhavili, Kareem Mohammod, and Kiran Bandi, AquaExchange is a IoT-powered mobile app for connecting aqua farmers with aquaculture input providers like hatcheries, feeds, etc. and also the aquaculture market research providers and consultants. The company claims to have developed a full-stack technology ecosystem that integrates IoT automation, proprietary AI/ML analytics, real-time farm monitoring, embedded finance, market linkages and that it has automated over 25 percent of Indian shrimp farms.The fresh funds will be used to scale its international technology business, expand its domestic market share, and deepen its presence across upstream segments of the aquaculture value chain. The company also plans to extend its technology platform into additional agri-asset classes and equip small and medium aquaculture farmers with technology tools.

Between Jul-22 and Dec-23, AquaExchange had attracted about USD 9 M from Accion International, Endiya Partners, Ocean 14 Capital, Others.For FY25, AquaExchange had reported about INR 172.60Cr in Operating Income and about INR 12.96 Cr in Net Loss.