AquaExchange, an IoT-powered aquaculture technology startup, has achieved a significant revenue milestone, crossing Rs 100 crore in the fiscal year 2024. The company, founded by Pavan Kosaraju, is redefining India’s aquaculture industry with a unique blend of technology and finance solutions designed to tackle key issues for fish and shrimp farmers. This remarkable growth highlights AquaExchange’s success in leveraging advanced technology to streamline aquaculture production and maximize yield.
Growth Driven by Tech and Finance Integration
Headquartered in Vijayawada, AquaExchange specializes in providing comprehensive digital solutions tailored to the aquaculture industry. Its services include automation of feed management through the AquaBot device and real-time monitoring using PowerMon for aerator management. By implementing IoT technology, AquaExchange enables farmers to automate critical processes, minimize waste, and lower costs—key factors driving its rapid revenue growth.
In addition to automation, the company offers financial services that cater specifically to aquaculture operations. Through partnerships with banks and lenders, AquaExchange supports farmers with accessible crop financing, helping them secure the resources needed to optimize production. This integration of technology and finance gives AquaExchange a competitive edge, helping it secure a strong position in the market.
Expansion and Funding for Future Innovation
Recently, AquaExchange raised $6 million in a Series A funding round led by Ocean 14 Capital, a prominent investor in sustainable aquaculture. The funds will be used to scale its technology adoption across India and explore international markets for its IoT devices, further strengthening AquaExchange’s market presence and technological footprint.
Founder Pavan Kosaraju envisions AquaExchange as a game-changer in the aquaculture sector, providing sustainable solutions to help farmers increase their income. With the recent revenue milestone and funding, AquaExchange is poised to continue its upward trajectory, leading innovations that prioritize both productivity and sustainability.
A Bright Future Ahead
As AquaExchange moves forward, it aims to impact even more aquaculture farmers by providing them with technology-driven tools to enhance production, minimize operational costs, and gain better market access. Its impressive revenue milestone underscores its commitment to revolutionizing the industry, making it a company to watch in the tech-driven agriculture sector.
Source: This article is based on information from Entrackr, and Ocean 14 Capital Limited.
Key Highlights:
- AquaExchange crossed Rs 100 crore in revenue for FY24, driven by IoT-based automation and financial solutions for farmers.
- The startup raised $6 million in Series A funding led by Ocean 14 Capital, which will support further scaling and international expansion.
- AquaExchange’s PowerMon and AquaBot devices streamline aquaculture operations, reducing costs and boosting efficiency.
- AquaExchange’s growth underscores its commitment to sustainable practices in India’s aquaculture industry.
