Chennai-based start-up Aquaconnect has raised $4 Million as part of a Pre-series B round led by S2G Ventures. This round of capital is "to continue scaling operations and expanding geographically to amplify the impact across India."
CEO and founder, Rajamanohar Somasundaram, said: "The investment from S2G comes 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."
Also, Kate Danaher, Managing Director of S2G Ventures, noted: "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."
The startup wanted to thank Kate Danaher, Michael Gilkes, and the entire team at S2G "for believing in our vision and choosing Aquaconnect to mark your foray into India."
Aquaconnect is a full-stack technology platform with integrated financial technology that uses satellite remote sensing and artificial intelligence to enable aquaculture farmers, retailers, and seafood buyers to increase access to formal credit, farm inputs, and post-harvest markets.
In addition, Aquaconnect announced in December that it raised $15 million in a Series A funding round led by Lok Capital.
"We would be able to get the right advisory to the farmers. We'd be able to get the formal financial institution to participate in the aquaculture value chain. And finally, we are also looking at how we improve the market linkage for the local producers to reach the domestic as well as international markets," Somasundaram explained to WeAreAquaculture.