VC Fund Investments
Aquaculture-tech co Aquaconnect raises $15-M from Louis Dreyfus, Lok Capital, others
Chennai-based Aquaconnect has raised USD 15 million in a Series A round led by Louis Dreyfus Company Ventures and Lok Capital with participation from Suneight Investment along with existing investors including Omnivore, Rebright Partners, Flourish Ventures, Hatch and other debt investors. Post-money, the company has been valued at around INR 181 crore (USD 22 million). Aquaconnect would issue 3 equity shares and 1,38,134 compulsory convertible preference shares (CCPS) at INR 5,031 per share to the investors. Louis Dreyfus Company Ventures B.V. has invested INR 20.07 crore followed by Lok Capital which infused INR 18.65 crore. Suneight Investment, Flourish Ventures, and aquaculture accelerator Hatch (via its Hatch Accelerator Fund LP) invested INR 8.17 crore, INR 7.85 crore, and INR 2.2 crore respectively. Rebright Partners and AgFunder joined the round with INR 6.28 crore each. Aquaconnect integrates the network of aquaculture farmers in Asia with predictive SaaS tools for farm management. It also has an omnichannel marketplace and leverages artificial intelligence and satellite remote sensing technologies to deliver maximum output. It claims to serve over 27,000 locations across four states with a network of more than 60,000 farmers and 30 brand partnerships. The fresh capital will be used to strengthen its portfolio of scalable solutions and widen service offerings in both the pre-harvest and post-harvest aquaculture value chain.
From the Venture Intelligence PE-VC Deal Database: Between Sep 19 and Jul 21, Aquaconnect had raised over USD 5 M from Omnivore Partners, AgFunder, 6G Capital, Rebright Partners, Flourish Ventures and others.
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