Kenyan startup, Aquarech, has secured $1.7 million in equity funding to empower small-scale fish farmers in Kenya with its innovative mobile app platform. The company operates from Kisumu, founded in 2019 by CEO Dave Okech alongside co-founders James Odede and Joseph Okoth. Aquarech’s primary goal is to streamline fish farming by utilizing its mobile app, enabling effortless trading, purchasing, and selling quality fish feed. Additionally, the platform serves as an educational hub for aquaculture best practices, ultimately aiming to enhance the financial prospects of farmers.
During its latest funding round, Aquarech recently secured $1.7 million in equity funding. This infusion of capital will be allocated towards talent acquisition, acquiring additional resources, and developing infrastructure to support greater vertical integration of its technology. Leading this investment is Aqua-Spark, a global aquaculture investment fund headquartered in the Netherlands, with contributions from Acumen, Katapult, and Mercy Corps Ventures.
Dave Okech, in a commitment to empower farmers, quoted the well-known proverb: “If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime.” He stressed the organization’s objective of enhancing the aquaculture value chain, with the funding and partnerships with investors playing a pivotal role in advancing Aquarech’s mobile-enabled platform. This platform is designed to address challenges faced by smallholder fish farmers while promoting collaboration among various stakeholders within the value chain, all while keeping the farmers’ needs at the forefront.
Aqua-Spark’s Head of New Deals, Christiaan Lensvelt, praised Aquarech for their commitment to improving the livelihoods of small to medium farmers while promoting both commercial success and environmental sustainability. Lensvelt expressed his excitement in assisting Aquarech’s team in their initiatives, emphasizing that the company stands out in the African aquaculture startup scene due to its unique combination of practical field expertise and advanced digital tools.