Aquarech, a trailblazing Kenyan fish farming startup, has triumphantly concluded a $1.7 million equity funding round, heralding a significant stride in its commitment to empower local small-scale fish farmers.
The funding, spearheaded by Aqua-Spark, a globally renowned aquaculture investment fund headquartered in the Netherlands, positions Aquarech to broaden its influence and provide crucial support to Kenyan fish farmers.
Established in 2019, Aquarech has introduced a groundbreaking mobile app platform that transforms conventional fish farming methods. This innovative platform establishes a direct link between farmers and suppliers of top-tier fish feed, mitigating challenges associated with securing high-quality feed.
Moreover, the app serves as an educational hub, offering valuable resources on best practices in aquaculture. This empowers farmers to optimize their productivity and profitability.
Aquarechโs commitment to bolstering fish farmers goes beyond mere access to quality feed and knowledge. The startup incorporates climate-smart precision fish-feeding techniques, facilitates market access, provides technical training, and extends financial assistance, including a noteworthy 90-day credit period for feed payments.
This holistic strategy effectively addresses the primary challenges faced by small-scale fish farmers, enabling them to adopt sustainable and profitable fish farming practices.
The $1.7 million funding round boasts contributions from prominent backers such as Acumen, Katapult, and Mercy Corps Ventures, underscoring the robust endorsement of Aquarechโs mission.