Chennai-based Aquaculture startup Aquaconnect has successfully raised $4 million (Rs 33 Cr) in Pre-Series B funding round led by S2G Ventures.
Rajamanohar Somasundaram, Founder & CEO of Aquaconnect, said,
“The investment from S2G reinforces our mission of transforming the Indian aquaculture landscape. The funds come at a critical juncture as we gear up for our next phase of growth to capture new opportunities, with an intense focus on expanding our operations in major markets.”
Aquaconnect, founded by Rajamanohar Somasundaram in 2017, is a fully integrated aquaculture platform that uses satellite remote sensing and AI to improve the efficiency of stakeholder operations in the fish and shrimp farming industry.
With the new capital, Aquaconnect plans to expand its operations and reach major aquaculture production states in India. Recently, the company has grown its presence in West Bengal, Uttar Pradesh and Assam.
Last year, Aquaconnect raised Rs 120 crore ($15 million) in Series A funding round led by Lok Capital, Louis Dreyfus Company (LDC) Ventures, Suneight Investments, AgFunder, Omnivore, Rebright Partners, and Flourish Ventures.
Till now the company has raised a total funding of Rs 265 crore($32 million).
Kate Danaher, Managing Director at S2G Ventures, said,
“Aquaconnect’s full-stack solution is revolutionizing aquaculture in India through reliable access to a diverse set of farming input products, working capital financing, marketplace commerce, and streamlined logistics.”