Aquaconnect raises ₹33 crore in pre-series B funding round led by S2G Ventures
The Hindu
Chennai-based Aquaconnect raises ₹33 crore in funding to scale operations and expand aquaculture platform in India.
Chennai headquartered Aquaconnect, a full-stack aquaculture platform has raised ₹33 crore ($4 million) in a Pre-Series B funding round led by S2G Ventures.
Aquaconnect will utilize the new capital to continue scaling its operations and enhance its coverage of the major aquaculture production states in India. The company has recently expanded its footprint in West Bengal, Uttar Pradesh, and Assam, and achieved 4x revenue growth in the last fiscal.
With this new funding, Aquaconnect also seeks to double its Aqua Partner network in the next six months, strengthening post-harvest linkage solutions and expanding its product portfolio with farmer-focused innovations, formal credit services, and new products to amplify its reach and impact. Aqua partners are rural entrepreneurs who provide last-mile assistance to farmers while delivering the company’s services, including farm advisory, access to feed and other farm inputs, and post-harvest market linkage to domestic and international buyers.
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.”
He further said: “This expansion is more than just scaling. It’s about deepening our impact within the farming communities by strengthening our Aqua Partners and seafood buyer network, thus creating a more sustainable ecosystem while simultaneously enhancing the service offerings and innovative tech-driven solutions to strengthen our position in the aquaculture sector.”
“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,” said Kate Danaher, Managing Director at S2G Ventures.
Aquaconnect raised $15 million in a Series A funding round last year from Lok Capital, Louis Dreyfus Company (LDC) Ventures, Suneight Investments, AgFunder, Omnivore, Rebright Partners, Flourish Ventures, and Hatch Blue.
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