Bhimavaram-based aquaculture startup AquaExchange has reported 36% revenue growth by achieving Rs 104.88 crore in revenue for FY24. Its positive journey highlights a dilemma that many tech-driven agribusinesses are facing and it is balance rapid growth with sustainable profitability.
The revenue growth of AquaExchange reflects growing importance of technology in aquaculture. It is addressing fundamental issues in aquaculture farming with innovative solutions like the PowerMon, power management tool and AquaBot. It is reducing hazards, increasing yields and managing rising input costs. The solutions represent its mission to make aquaculture efficient, productive and scalable.
AquaExchange secured a $6 million Series A investment in January 2024 led by Ocean 14 Capital equipped with supports from Endiya Partners and Accion Venture Labs. The funding signals strong investor confidence and is also a vote of trust in its ability to reshape aquaculture through technology.
The total expenses for FY24 climbed to Rs 117 crore and it was mainly driven by higher material costs and increased investments in talent. Employee expenses alone were up by nearly fourfold and this highlights the strategic choice of the company to invest in human capital. Such growth comes with strains and therefore the finance costs tripled over the year. It was likely due to heightened borrowing or rising interest rates. Meanwhile, depreciation costs also grew up and this reflected the company’s ongoing investment in technology infrastructure.
The revenue growth is commendable but it witnessed a 92% increase in net losses and it totaled to Rs 9.35 crore. It reveals the difficulty of managing costs in a fast-expanding and tech-driven sector. The rising expenses for the company reflect necessary investments and also suggests importance of strategic financial planning for sustain long-term profitability.
