AquaExchange, a Vijayawada-based startup specializing in aquaculture technology and fintech, has secured $6 million in Series A funding. The round was spearheaded by Ocean 14 Capital, with contributions from existing investors such as Endiya Partners and Accion Venture Labs.
The funds will be allocated toward expanding the company’s comprehensive business model, which encompasses farm automation, crop financing, and harvest procurement. The company also intends to target select international markets for device exports.
AquaExchange’s patented product, PowerMon, leverages machine learning to monitor aquafarm power consumption, enabling farmers to oversee operations via their mobile devices. An additional technology, currently in its final production phase, aims to streamline feed management, eliminating manual intervention and minimizing waste.
Innovations like AquaExchange can significantly boost Bangladesh’s production-based economy and aid its farmers. The emergence of similar innovations from startups in Bangladesh would further enhance the agricultural sector in Bangladesh.