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Funding

Aquaconnect raises $4M in pre-Series B funding round 

Aquaconnect, a startup focused on the aquaculture industry, has raised $4 million (Rs 33 crore) in a pre-Series B funding round led by S2G Ventures.

The company plans to use the capital to continue scaling its operations and enhance its coverage of the major aquaculture production states in India. It recently expanded its footprint in West Bengal, Uttar Pradesh, and Assam.

Aquaconnect said it achieved 4x revenue growth in the last fiscal year. The startup aims to double its Aqua Partner network consisting of rural entrepreneurs who provide last-mile assistance to farmers, in the next six months. It is also working to strengthen post-harvest linkage solutions and expand its product portfolio with farmer-focused innovations, formal credit services, and new products to amplify its reach and impact.   

R&D platform Reslink closes first funding round 

Reslink, an R&D Platform dedicated to bridging the gap between industries and researchers, has closed its first funding round. The funding round was led by Chandigarh Angels Network and Azhar Iqubal, Founder of Inshorts and a recent judge on Shark Tank, along with KRS Jamwal.

The round also saw participation from notable investors including Abhishek Gupta, CEO of Turbotic, APAC, and ME, and Mudit Gusain, Director at Madison India Capital.

Reslink has assisted over 25 companies, including metaverse startup LOKA and eco-conscious venture Back to Basic Recycling, in enhancing their R&D capabilities.

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Other news

Adya.ai, Google Cloud partner to launch ATMA AppStudio for rapid ONDC adoption

Adya.ai, an ONDC (Open Network for Digital Commerce) technology solutions provider, has partnered with Google Cloud to launch ATMA (Aatmanirbhar Technology Marketplace by Adya) AppStudio. 

ATMA AppStudio is a self-serve portal that enables rapid ONDC app deployment, allowing businesses to quickly build and customise buyer, seller, issue and grievance management, reconciliation and settlement service provider, financial, and logistics apps. These apps span various domains such as retail, financial services, and mobility. They are then deployed on Google Cloud within a significantly reduced timeframe.

As of January 2024, despite 14,000 entities aiming to build apps on ONDC, less than 100 are live on the network. This indicates both eagerness and hurdles in embracing ONDC swiftly. Businesses face an average of one year to go live, raising costs and limiting participation, according to the company. The ATMA AppStudio self-serve marketplace aims to streamlines the process.

Businesses can choose domains, create apps, optimise cloud hosting, design UI/UX, integrate with existing tech stacks, and launch quickly.  ATMA AppStudio plays a crucial role in overcoming these obstacles related to technical build, integration, and deployment, said the company.

(This article will be updated with the latest news throughout the day.)