AquaExchange Raises $3 Million In Pre-Series A Funding The company plans to utilize the fund in strengthening technology, e-commerce operations and expanding its farm automation footprint to over 1 lakh acres of farm by FY23

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

AquaExchange, a full-stack tech-driven platform serving shrimp and fish ecosystem, has raised $3 million in pre-Series A funding from Endiya Partners and Accion Venture Lab, along with the participation of existing investors. The company plans to utilize the fund in strengthening technology, e-commerce operations and expanding its farm automation footprint to over 1 lakh acres of farm by FY23.

"At AquaExchange, the key focus is on adding value to the aquaculture farming process through the use of advanced technology. Our IoT devices and automatic feeders have been installed at scale and are helping farmers with higher reliability or efficiencies in terms of aeration and feed management. We believe that future aquaculture farmers should be equipped with right data at the right time to ensure higher crop successes and also increase farming productivity," said Pavan Kosaraju, founder, AquaExchange.

AquaExchange's vision is to improve farmer productivity and livelihoods by ushering in aquaculture 4.0 into India. The company has already touched lives of thousands of Indian farmers with its patented tech and is demonstrating its value proposition to all stakeholders in the ecosystem, claimed by the company in a statement.

"We are excited to back the AquaExchange team in their vision to transform the aquaculture landscape in India and globally to benefit a large number of aqua farmers. With its differentiated proprietary technology for farm and automation and power management, AquaExchange will not only help bring in efficiencies across the aquaculture value chain but also generate solid data driven insights to bring in access to formal credit, that has largely remained elusive for the sector," said Dr Ramesh Byrapaneni, managing director, Endiya Partners.

Founded in 2020, AquaExchange operates across the value chain through a fintech enabled e-commerce platform that offers high quality inputs at best prices directly from manufacturers, a hardware-as-a-service model for farm automation under the brand name 'NextAqua' and harvest-as-a-service market linkage platform that facilitates harvests at the farm-gate with transparent pricing and assured spot payments to the small holder farmers, according to company statement.

As per market analysis, the global shrimp and fish market is estimated to grow at $400 billion by 2027. This market is at the threshold of a massive change in terms of technology adoption for efficient farming.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

How to Build a Solid Go-to-Market Strategy for 2025

Here's your playbook for creating a GTM strategy that works in 2025.

News and Trends

Strong Digital Infra, Skilling Support for AI, Cybersecurity Among IT Sector Budget Expectations

Industry leaders anticipate incentives for adopting emerging technologies like AI, quantum computing, and blockchain, alongside tax relief for R&D investments.

Business News

'More Soul-Crushing Than Ever': Popular Hiring Platform Finds Around 20% of Its Postings Were 'Ghost Jobs'

Is that job listing too good to be true? There's a one-in-five chance that it might be.

News and Trends

India's Tech IPO Market Booms in 2024 with Swiggy's USD 1.34 Billion Debut and Zomato's Sensex Milestone: Report

Among India's 29 profitable unicorns, Zerodha led the pack, emphasising the ecosystem's shift toward sustainability. Inclusivity also shone through, with 19 unicorns led by women founders, showcasing the evolving entrepreneurial landscape.