The Coastal Aquaculture Research Institute, which operates the aqua farmers’ network Aquaconnect, announced on Tuesday that it has received $15 million (approximately Rs 127 crore) in Series A funding led by impact investment venture capital firm Lok Capital.

A number of new and existing investors, including Louis Dreyfus Company Ventures, Suneight Investment, Omnivore, and Rebright Partners, also participated in the round.

The new funds will be used by the Chennai-based startup to expand its service offerings and expand its portfolio of scalable solutions.

Aquaconnect, founded in 2017 by Rajamanohar Somasundaram, is an online marketplace where fish and shrimp farmers can purchase high-quality aquaculture products directly from manufacturers.

According to the company, it provides probiotics, minerals, feed supplements, disinfectants, and aerators with free doorstep delivery across India.

Lok Capital was founded in 2004. The firm invests in startups and entrepreneurs in industries such as finance, healthcare, and food and agriculture.

Aquaconnect received $8 million in venture debt funding from Trifecta Capital in March.

Aquaconnect raised $4 million in a pre-Series A round led by Rebright Partners and Flourish Ventures in August of last year.

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