Sequoia Capital India's Surge and Venture funds, Omnivore Partners, and Zephyr Peacock have invested $5.25 million in Chennai-based Aqgromalin, an Agtech platform for animal husbandry and aquaculture ecosystem.
Aqgromalin is developing a full-stack Agtech platform to assist farmers in diversifying their businesses into animal husbandry and aquaculture. Aqgromalin provides farmers, butchers, meat corporations, and exporters with a data-backed, traceable supply chain for their poultry, seafood, and animal needs.
In the last six months, the start-revenue up's has increased by tenfold, and it now has over 300,000 farmers and micro-entrepreneurs on its website.
"In India's agricultural environment, animal husbandry and aquaculture are extremely fragmented and underdeveloped sectors. In a statement, Aqgromalin co-founders Bharani CL and Prasanna Manogaran said, "As part of the fund acquisition, we look forward to expanding our operations and assisting farmers to overcome the issues of a limited supply of quality live inputs and lack of access to markets."
AQAI Platform
Animal husbandry and aquaculture producers in India struggle to obtain a reliable supply of high-quality live input materials and to get them on time.
At the opposite end of the equation, traders, butchers, and exporters face a similar issue: a shortage of reliable, high-quality supplies of a range of animal products. Supply chain interruptions afflict the entire value chain, resulting in unpredictably low profits for stakeholders.
The grower and trader ecosystems are integrated on Aqgromalin's technological platform, AQAI, to overcome these obstacles. Farmers can use the AQAI platform to get high-quality inputs delivered to their farm, as well as a greater range of species and transparent pricing.
On the downstream side, the platform allows the animal trade ecosystem to source a diverse range of animal products with continuous supply and quality. Aqgromalin provides end-to-end traceability of the produce to downstream partners through AQAI.
