Aquaculture technology startup AquaExchange has raised $8 million (around Rs 72 crore) in its Series B funding round. The round was co-led by Endiya Partners and Factor Analytics, with participation from Accion Ventures and support from Ocean 14 Capital.
According to the company’s filings with the Registrar of Companies (RoC), AquaExchange approved the issuance of 67,324 Series B Compulsorily Convertible Preference Shares (CCPS) and 20 equity shares at an issue price of Rs 1,068.38 per share, raising around Rs 72 crore in the process.
Investor Participation and Valuation
As per the filings, Endiya Partners and Factor Analytics each invested Rs 30 crore, while Accion Ventures contributed Rs 12 crore in the round.
Based on estimates, AquaExchange’s valuation has increased by around 74% to Rs 372 crore (approximately $41 million) in this round, compared to Rs 214 crore during its Series A funding in January 2024.
After the latest share allotment:
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Endiya Partners holds around 16.2% stake
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Accion Ventures holds about 9.68%
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Factor Analytics owns roughly 8.06%
Expanding Aquaculture Technology
Founded by Pavan Kosaraju, Hemasundar Dhavili, Kareem Mohammod, and Kiran Bandi, AquaExchange focuses on helping aquaculture farmers adopt technology to improve crop yields, reduce risks, and manage rising input costs.
The company offers a range of products including:
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PowerMon, a power management device for aquaculture farms
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AquaBot, an automated feed management system
Apart from technology solutions, AquaExchange also supports farmers by facilitating access to formal crop loans and working capital from financial institutions.
Growing Presence in Global Aquaculture
The company claims to be India’s first aquaculture technology firm to automate more than 25% of the country’s shrimp farming acreage.
Currently, AquaExchange’s platform monitors over 80,000 acres of aquaculture farms globally. It operates across five Indian states and has also expanded internationally to markets such as Ecuador, Saudi Arabia, and Madagascar.
Financial Performance
AquaExchange has also seen strong revenue growth. The company’s operating revenue grew 2.3 times to Rs 240.51 crore in FY25, compared to Rs 104.88 crore in FY24.
However, its losses increased to Rs 12.71 crore in FY25, up from Rs 9.35 crore in the previous year. The company says it is aiming to achieve EBITDA profitability within the current financial year.
With the fresh funding, AquaExchange plans to expand its international technology business, strengthen its domestic market share, and further build its presence across the aquaculture value chain.
-By Shivani Solanki
