AquaExchange, an aquaculture technology and fintech startup based in the heart of India's burgeoning shrimp farming industry, has raised $6 million (€5.5 million) in Series A funding.

The round was led by Ocean 14 Capital with participation from existing investors including Endiya Partners and Accion Venture Lab.

Headquartered in Vijayawada in the eastern state of Andhra Pradesh, AquaExchange aims to help transform the aquaculture sector through technology, increasing crop yields, mitigating risks and combatting rising input costs.

Its devices enable farm automation and look to improve crop visibility for the whole supply chain with the aim of premium prices and reduced costs for farmers.