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HomePosts Tagged "Rajamanohar Somasundaram"
Acquaculture, Agribusiness, Company News, Finance, Funding, India

Funding will enable Aquaconnect to continue scaling its operations and expanding geographically to amplify its impact across India.

Chennai based Aquaconnect, a full-stack aquaculture platform with embedded fintech that leverages satellite remote sensing and artificial intelligence to improve the efficiency of stakeholders in the fish and shrimp farming industry, completed a $4 million (Rs 33 Cr) Pre-Series B funding round led by S2G Ventures.

Aquaconnect will utilise the new capital to continue scaling its operations and enhance its coverage of the major aquaculture production states in India. The company has recently expanded its footprint in West Bengal, Uttar Pradesh, and Assam, and achieved 4x revenue growth in the last fiscal year.

With this new funding, Aquaconnect also seeks to double its Aqua Partner network in the next 6 months, strengthening post-harvest linkage solutions and expanding its product portfolio with farmer-focused innovations, formal credit services, and new products to amplify its reach and impact. Aqua Partners are rural entrepreneurs who provide last-mile assistance to farmers while delivering the company’s services, including farm advisory, access to feed and other farm inputs, and post-harvest market linkage to domestic and international buyers.

Commenting on the Pre-Series B funding round, Rajamanohar Somasundaram, Founder & CEO of Aquaconnect, said, “The investment from S2G reinforces our mission of transforming the Indian aquaculture landscape through a phygital approach. The funds come at a critical juncture as we gear up for our next phase of growth to capture new opportunities, with an intense focus on expanding our operations in major markets. This expansion is more than just scaling. It’s about deepening our impact within the farming communities by strengthening our Aqua Partners and seafood buyer network, thus creating a more sustainable ecosystem while simultaneously enhancing the service offerings and innovative tech-driven solutions to strengthen our position in the aquaculture sector.”

“Aquaconnect’s full-stack solution is revolutionizing aquaculture in India through reliable access to a diverse set of farming input products, working capital financing, marketplace commerce, and streamlined logistics,” said Kate Danaher, Managing Director at S2G Ventures. “Aquaculture is the fastest growing method of food production in the world, and a critical solution for long-term food security. Platforms that contribute to the viability of the sector through sustainable farming practices and trade are paramount. As a leading organization in the second largest aquaculture market in the world, we believe Aquaconnect is ideally positioned to capture meaningful market share and contribute to a future of sustainable growth across the sector.”

Aquaconnect raised $15 million in a Series A funding round last year from Lok Capital, Louis Dreyfus Company (LDC) Ventures, Suneight Investments, AgFunder, Omnivore, Rebright Partners, Flourish Ventures, and Hatch Blue.

Funding will enable Aquaconnect to continue scaling

Acquaculture, Agribusiness, Company News, India, Start ups

The collaboration aims to foster innovation and entrepreneurship in the state to strengthen the fisheries value chain.

Chennai based Aquaconnect, an aquaculture technology platform has signed a Memorandum of Understanding (MoU) with StartupTN to promote blue economy initiatives in the state. Through this, Aquaconnect aims to foster innovation and support the growth of new age startups in the aquaculture sector in the state.

In line with this, Aquaconnect in collaboration with StartupTN, backed by the Tamil Nadu government and Sathyabama University – Technology Business Incubator (Incubation Partner), launched ‘The Fish Tank’-India’s Grand Aquaculture Innovation Challenge, at the Tamil Nadu Global Investors Meet on January 07,2024.

The Fish Tank aims to promote innovation in the Indian aquaculture sector by providing a unique platform for early-stage startups and college students (UG/PG/Ph.D.) to showcase their next-generation ideas to the world and scale for impact. The program will cover broader aspects of the aquaculture value chain in both pre & post-harvest value chain wherein applicants can propose ideas related to affordable IoT/Software based solutions to monitor water quality, daily feeding, animal health, biotechnological advancements to improve production efficiency, seafood processing, preservation, and value addition amongst others.

The collaboration, which aligns squarely with The Government of Tamil Nadu’s ambitious goal of developing a $1 trillion dollar economy, further aims to nurture emerging talent and offer support to startups in Tamil Nadu to strengthen the fisheries value chain.

Sivarajah Ramanathan, Mission Director & CEO of StartupTN, “StartupTN’s Blue economy forum is first of its kind professional network to promote collaborative efforts between government initiatives, academia, and industry players which will drive a transformative growth, for making Tamil Nadu a hub for seafood-focused startups. I invite all aspiring entrepreneurs, early-stage startups to solve the challenges of “Fish Tank” and contribute to the blue economy of the state.”

Speaking on the development, Rajamanohar Somasundaram, Founder & CEO, Aquaconnect said, “The collaboration with StartupTN underscores our commitment to accelerating blue economy initiatives in Tamil Nadu. We are excited to witness how this will unfold and impact the sector on a large scale. Being the second largest producer globally, India’s aquaculture sector holds enormous potential, and it needs wider participation from forward-thinking individuals. I believe FishTank will be a pivotal step in fostering young entrepreneurship and unlocking the doors for incredible talent in Tamil Nadu.”

The collaboration aims to foster innovation and

Climate, Environment, India, Sustainability

This includes eco-friendly alternatives to conventional products, promoting recycling and waste reduction, using sustainable materials, and offering carbon-neutral or carbon-negative services

Many SMEs or startups are developing and implementing green technologies to reduce carbon emissions. These technologies include renewable energy solutions like solar panels, wind turbines, and energy-efficient systems that help minimise greenhouse gas emissions. 

These SMEs and startups are also focusing on developing and offering sustainable products and services. This includes eco-friendly alternatives to conventional products, promoting recycling and waste reduction, using sustainable materials, and offering carbon-neutral or carbon-negative services.

Climate change poses a formidable and urgent challenge in our era, wherein the agricultural industry emerges as a notable contributor to the release of greenhouse gases. Population growth has fueled higher food demand, leading to emissions from various agricultural activities. At SLCM, we recognise the importance of going green and have implemented initiatives like Agri Suraksha and solar cameras. These measures have saved 72 tonnes of CO2 emissions annually. We are committed to taking further actions to ensure the safety and security of agricultural produce while progressing towards sustainability says, Sandeep Sabharwal, Group CEO, of Sohan Lal Commodity Management (SLCM)

Rajamanohar Somasundaram, Founder and CEO of, Aquaconnect adds With the world population having crossed the 8 billion mark, the pressure on food systems is intense, pushing us to redefine the way we produce and consume. Farmed seafood, one of the most sustainable forms of protein production, is steadily emerging as a viable alternative to meet the nutritional requirements of this rapidly growing population. However, producing clean and sustainable protein requires collection action- from the government, impact organisations, startups, and all the players across the seafood value chain. There is a pressing need to promote and implement decarbonisation measures through intelligent tech intervention. 

Aquaconnect is focused on building scalable tech models that leverage artificial intelligence and Geo-Spatial technology to decarbonise the seafood value chain. From quantifying emissions and measuring carbon footprints to strategising countermeasures. We believe that the strides we make today can help consumers make responsible choices tomorrow, thereby making the seafood sector a significant player in the global combat against climate change.”

Packaging is one of the industries that generate maximum plastic pollution and needs to work on more sustainable options that are as durable as plastic and are the best alternative to plastic. Achieving a completely sustainable alternative to plastic is not going to be easy but at Bambrew we aim to do so and are working towards it. The packaging that we have developed is 100 per cent sustainable and decomposable and in many ways is as durable as plastic. There is a need to identify the pain points when it comes to the end consumer and burst the myths associated with sustainable options, one being the pricing. The government too has understood the cause of the problem and is taking many initiatives like the ban on single-use plastics. To date, at Bambrew we have been able to save more than 20,000 tonnes of plastic and we aim to save more as we strive to grow and are able to replace plastic with our sustainable business model. Says Vaibhav Anant, Founder, and CEO, of Bambrew

Dr Vibha Tripathi, Founder & MD, of Boon (a water tech startup), says “Indian start-ups and SMEs are leading a green revolution by promoting energy-efficient technology, supply chain management, waste reduction, and production processes. 

We being a water-tech startup are pioneering the NetZero Water Initiative. Under this initiative, Boon is replacing plastic water bottles with sustainable glass water bottles across sectors including hospitality, corporates, and government. We have been able to save 548,459 kg of carbon emissions equivalent to planting 26144 trees. We are on a mission to beat plastic pollution while making drinking water accessible and affordable.”

This includes eco-friendly alternatives to conventional products,