Chennai-based Aquaconnect has raised a seed round of $1.1 Mn from agritech focussed VC Omnivore, and company’s existing investor HATCH. As a part of this investment, Omnivore’s Chennai office lead Reihem Roy will be joining Aquaconnect’s board to support the company’s growth strategy.
Aquaconnect has built a big data and artificial intelligence (AI) enabled mobile application — FarmMOJO — to advise farmers on their pond operations based on constant monitoring of the pond and other data capture by IoT platforms.
With this new funding, the company plans to introduce image recognition feature in the FarmMOJO app in order to speed up the data input process for the farmers.
Aquaconnect’s cofounder Rajmanohar Somasundaram told Inc42 that these fresh funds will be used in developing an image recognition feature in FarmMOJO app. “This new feature will allow farmers to write down the pond’s stats on a paper and upload them on the app by just taking a picture of that sheet.”
Further, the company also plans to invest in setting up 10 Aquaconnect stores around the shrimp farm regions of Tamil Nadu, Gujarat and Andhra Pradesh. These stores will serve both as a marketplace for farm-related products such as seeds, probiotics etc, along with becoming a customer touchpoints for the farmers.