AquaExchange, an agritech startup, is revolutionizing India’s shrimp farming industry by introducing a comprehensive technology platform to address critical gaps in the sector. Founded by a group of professionals returning to India, the startup recently secured $8 million in Series B funding, highlighting the industry’s growing interest in tech-driven solutions.
Recognizing the lack of formal finance, insurance, and reliable data in the ₹35,000 Cr shrimp export industry of Andhra Pradesh, AquaExchange developed a full-stack platform integrating IoT devices, AI models, financing options, insurance services, and market connections. By leveraging data infrastructure directly on farms, the startup aims to transform aquaculture practices not only for shrimp but also for other animal-protein sectors.
With a presence on over 71,000 acres of farms and engagement with nearly 6,000 farmers, AquaExchange is reshaping the traditional shrimp farming landscape. The startup’s mission to bring transparency and efficiency to the ecosystem is crucial, considering India’s significant shrimp export volumes and the lack of basic visibility in the sector.
According to co-founder Pavan Kosaraju, the journey from consultants to shrimp farming technology experts has been marked by a commitment to bridging industry gaps and enhancing operational insights. By providing real-time data and insights, AquaExchange is empowering farmers and stakeholders to make informed decisions, ultimately driving growth and sustainability in India’s aquaculture sector.
Source: Inc42 Media