AquaExchange Secures $6M Series A Funding to Accelerate Global Expansion
Vijayawada-based aquaculture technology startup AquaExchange has successfully raised $6 million in a Series A funding round led by Ocean 14 Capital. Existing investors, including Endiya Partners and Accion Venture Labs, also participated in this round. This comes after AquaExchange’s earlier achievement of securing $3 million in a pre-Series A round from Endiya Partners and Accion Venture Lab.
The company, known for its innovative aquaculture solutions, has already deployed its devices across thousands of acres in India, gaining notable traction in international markets. Dr. Ramesh Byrapaneni, Managing Director of Endiya Partners, expressed excitement about supporting AquaExchange’s progress, emphasizing the team’s commitment to enabling competitive, profitable, and sustainable aquaculture.
AquaExchange plans to utilize the newly raised capital to scale the adoption of its full-stack farm automation, crop financing, and harvest procurement systems. The funds will also facilitate the company’s expansion into international markets for device exports.
Pavan Kosaraju, Founder of AquaExchange, highlighted the company’s unique reinforcement framework, where farmers are immediately incentivized for sustainable practices through reduced input costs and higher offtake prices. This framework aims to underscore AquaExchange’s commitment to sustainable practices within the aquaculture industry.
Headquartered in Vijayawada, AquaExchange leverages technology to enhance aquaculture yields, mitigate crop risks, and assist farmers in dealing with rising input costs. The company’s automation devices, which include features such as power management, feed automation, and aeration control accessible via a smartphone app, also contribute to improving crop visibility for lenders.
Piers Lakin, Senior Associate of Ocean 14 Capital, expressed admiration for AquaExchange’s impressive growth, noting the company’s swift deployment of technology across a significant portion of the Indian aquaculture landscape. Lakin emphasized AquaExchange’s role in delivering data, insights, and control to stabilize customer production while providing an end-to-end solution that offers access to inputs, offtake, and finance.
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