Chennai (Tamil Nadu) [India], August 12 (ANI/News Voir): India’s leading aquaculture startup “Aquaconnect” has been listed in the inaugural Forbes Asia 100 to watch list. Forbes list spotlights notable small companies and startups on the rise across the Asia-Pacific region.
The list features 2 aquaculture startups and other startups in 10 categories across 17 countries and territories across the Asia-Pacific region.
Founded 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 farm 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.
Rajamanohar Somasundaram, CEO and Founder of Aquaconnect said, “I am thrilled to learn that we are one of few Indian ag-tech startups 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 making the Indian seafood industry sustainable and promoting responsible production & consumption.”
“We support the Government of India’s vision to empower the aquaculture sector with a 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 & income. Our mission is to drive sustainability and improve the value chain with responsible production and consumption practices,” He added.
In addition to a 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.
Headquartered in Chennai, Aquaconnect was Co-founded by Rajamanohar Somasundaram in 2017. It is a full-stack aquaculture technology venture that works with shrimp and fish aquaculture farmers to improve their farm productivity and market linkage 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. Aquaconnect is funded by HATCH-Norway, India’s biggest Agritech venture capital Omnivore, Japan’s Rebright Partners, & flourish ventures.
Aquaconnect is recognized as World Changing Idea 2020 by Fast Company. The company is also an Innovator at Seafood Innovation Project and Hatch Accelerator, Norwegian Seafood Innovation Cluster. Aquaconnect is a platinum winner of Agriculture insuretech award by World Bank Group.
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