AI-powered farm advisor Aquaconnect, based in Chennai, has secured $4 million in a pre-Series A round co-led by Flourish Ventures and Rebright Partners. AgFunder, 6G Capital as well as existing investors HATCH and Omnivore also participated in the latest funding round.
Speaking on the announcement, Rajamanohar “Raj” Somasundaram, Founder and CEO of Aquaconnect, commented, “The recent investment is a strong validation of our goal to become India’s largest aquaculture value chain aggregator, and will help us scale up in both size and scope. We will deploy the fresh capital to scale our farm advisory, financial services, and marketplace for seafood exports.”
“We are backing Aquaconnect to help enable digital transformation in India’s aquaculture industry by supporting all stakeholders to increase exports of high-quality seafood with traceability to key markets like Japan,” said Brij Singh, General Partner of Rebright Partners.
Anuradha Ramachandaran, Investment Director at Flourish, added, “Aquaconnect is a compelling example of how financial services that are integrated with popular platforms can empower small businesses and enhance their owners’ livelihoods, reflecting the importance of embedded finance as an investment thesis for Flourish.”
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