India’s leading aquaculture start-up, Aquaconnect has been listed in the inaugural Forbes Asia 100 to Watch List which spotlights notable small companies and start-ups across the Asia-Pacific region. The list features two aquaculture start-ups and other start-ups in 10 categories across 17 countries and territories across the region.
Rajamanohar Somasundaram, CEO and Founder, Aquaconnect, said he is thrilled that the company is one of the few Indian ag-tech start-ups that made it to the prestigious Forbes Asia 100 to Watch List. “India is the second largest global aquaculture player with a market value of about $20 billion. Aquaconnect’s technology innovations are aiming to improve the efficiency of India aquaculture value chain by bringing transparency, traceability and predictability across the value chain players. I believe Forbes listing is a great validation of our initiatives in marking the Indian seafood industry sustainable and promoting responsible production and consumption.”
Aquaconnect supports the Government of India’s vision to empower the aquaculture sector with data-driven approach. “We have evidently increased the tech adoption among 35,000 Indian aqua farmers and driven sustainable farming practices in every culture operation to improve their productivity and income. Our mission is to drive sustainability and improve the value chain with responsible production and consumption practices,” Somasundaram said.
Established in 2017, Aquaconnect is the pioneer of data and tech enabled aqua-farming in India. It is a full-stack aquaculture technology venture that works with shrimp and fish aquaculture farmers to improve their farming productivity through AI and satellite remote sensing technology. Aquaconnect aims to promote sustainable aquafarming among the farming communities and works with 35,000+ farmers in various states of India. The company is working towards creating market linkages, formal finance and insurance accessibility for the Indian aqua farmers.
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Besides farm advisory and an online shop for equipment and supplies, Aquaconnect provides financing, insurance, market linkage and a network for farmers to connect with potential customers. The company raised $4 million in July in pre-Series A round led by Rebright Partners and Flourish Ventures. AgFunder and 6G Capital also participated in this round, along with existing investors Omnivore and HATCH-Norway.
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