AquaExchange, an IoT solutions provider to aquaculture farmers, has raised $6 million in a Series A funding round led by Ocean 14 Capital. Existing investors Endiya Partners and Accion Venture Labs also participated in the round.
The proceeds will be deployed to scale adoption of the company’s full-stack business model including farm automation, crop financing and harvest procurement, AquaExchange said in a press release.
The startup also plans to focus its efforts on a few international markets for device exports.
Vijayawada-based AquaExchange helps aquaculture farmers leverage technology to increase crop yields, mitigate crop risks and combat rising input costs. Its product portfolio includes power management (PowerMon) and feed automation (AquaBot) devices.
Led by Pavan Kosaraju, AquaExchange had raised $3 million in a pre-Series A round from Endiya Partners, Accion Venture Lab and others in June 2022.
In August last year, Ocean 14 Capital raised over $21 million from Convex Group Limited to grow its portfoli between 20 and 25 businesses within three years.
