Aquaconnect, which is an aquaculture inputs and outputs platform, has raised Rs 60 crore or around USD 8 million in a venture debt funding round led by venture debt firm Trifecta Capital.
The Chennai-based startup will use the money to strengthen its network of aqua partners and its post-harvest market linkage solutions apart from expanding its network of franchise stores that enable access to quality input products to the fish and shrimp farmers.
Aquaconnect works with fish and shrimp farmers to improve their productivity, financial access, and market linkage through intelligent technology solutions, Rajamanohar Somasundaram, founder and chief executive said.
The startup is part of the innovator cohort at Seafood Innovation Project and Hatch Accelerator which is the Norwegian Seafood Innovation Cluster.
Started in 2017, Aquaconnect is a full-stack aquaculture inputs and outputs platform with embedded fintech, supported by a physical and digital distribution network and works with over 60,000 fish/shrimp farmers in various states.
Aquaconnect is backed by leading domestic and international investors like Omnivore, Rebright Partners, Flourish Ventures, AgFunder, Hatch, and 6G Capital.