Amazon Quiz: (June 9) Name the full stack aquaculture input and outputs platform that recently raised $8 million funding from Trifecta Capital?
Aquasolve
Aquamaze
Aquaphile
Aquaconnect
Answer: Aquaconnect
Aquaconnect, a full-stack aquaculture input and outputs system, has secured a Rs 60 crore venture debt fundraising round headed by Trifecta Capital.
The newly raised funds will be used to extend the company’s presence across India by extending its network of Aqua partners – franchise outlets that provide excellent input items to fish and shrimp growers.
The funding will also be utilised to grow Aquaconnect’s operations and improve its post-harvest market linking solutions. Improving market connectivity will enable farmers to reach a greater range of possible purchasers, enhancing value realisation.
Aquaconnect uses intelligent technology solutions to help fish and shrimp producers enhance farm production, financial access, and market connectivity. It has been attempting to traverse the difficulties of the aquaculture value chain aggregator.
“At Aquaconnect, our aim is to make the aquaculture value chain more efficient and transparent while increasing value realization through tech intervention,” said Rajamanohar Somasundaram, founder and CEO of Aquaconnect. “The fresh round of capital will help us achieve this goal by paving the way for expansion of our partners network in India and help the aquaculture farmers reach more buyers by strengthening our post-harvest market linkage solutions.”
Aquaconnect has been named one of the ‘Forbes Asia 100 to Watch’ and one of Fast Company’s ‘World-Changing Ideas 2020.’ It is a member of the Innovator cohort at the Norwegian Seafood Innovation Cluster and the Seafood Innovation Project. Aquaconnect is a platinum winner of the World Bank Group’s Agriculture insuretech award. The company was recently named the ‘Most Innovative AgTech Startup’ by FICCI and was shortlisted for the fifth edition of Google for Startups Accelerator (GFS) India.
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