Funding Rundown: Aquaconnect raises $8 mn in debt funding, Struct Finance gets $3.9 mn, VAMA secures $750k & Polygon founder Jayanti Kanani invests in Plutoverse
Summary
Aquaconnect, a full-stack aquaculture input and outputs platform has raised $8 milliom (Rs 60 crore) in a venture debt funding round led by Trifecta Capital. The startup will utilize the fresh capital to deepen its presence across India by expanding its network of Aqua partners- franchise stores that enable access to quality input products to the fish and shrimp farmers, the firm said in a statement. “The fresh round of capital will help us achieve this goal by paving the way for expansion of our Aqua partners’ network in India and help the aquaculture farmers reach more buyers by strengthening our post-harvest market linkage solutions,” said Rajamanohar Somasundaram, Founder and CEO of Aquaconnect. With the amount secured, Plutoverse aims to build virtual identities that can coexist and socialize in the same shared universe, and to tell stories inspired by and tailor made for Gen Z and Millennials, it said in a statement. The Thrasio-style startup will acquire 8 more legacy brands by FY 2022-23, with a targeted cumulative revenue of Rs 120 Cr generating 100+ direct and indirect jobs across the country, it said in a statement.