Aquaconnect raises $8 million venture debt [The Times of India]

Aquaconnect raises $8 million venture debt [The Times of India]

Originally posted on The Times of India

Chennai: Aquaconnect, a full-stack aquaculture input and outputs platform, has raised Rs 60 crore (around $8 million) in a venture debt funding round led by venture debt firm Trifecta Capital.

The startup, which works with fish and shrimp farmers to improve farm productivity, financial access, and market linkage through tech solutions, will utilize the freshly raised capital to deepen its presence across India by expanding its network of Aqua partners- franchise stores that enable access to quality input products to the fish and shrimp farmers.

The funds will also be used to expand scale of operations and enhance Aquaconnect’s post-harvest market linkage solutions.
“The fresh round of capital will help us achieve this goal by paving the way for expansion of our Aqua partners network in India and help the aquaculture farmers reach more buyers by strengthening our post-harvest market linkage solutions,” Rajamanohar Somasundaram, founder and CEO of Aquaconnect, said.