Angel investor, Sharad Sharma has made his first agtech investment, raising Rs 25 lakh (approximately US$37,000) to invest in Bengaluru-based fish farming startup, IntensAquatica.

Sharma, who heads up the think tank iSpirit also helped IntensAquatica raise Rs 2.5 cr (US$370,000) from investors associated with Let’s Venture, a platform in India that Sharma advises, that facilitates the connection between startups and investors.

The Indian food and ag sectors, including aquaculture, have seen more focused investor interest along with higher valuations in recent months according to India-focused agtech VC firm, Omnivore Partners reports Tech Story.  India has grown to become one of the leading suppliers of seafood in the world. It is the largest exporter of shrimp to the U.S., the second largest exporter of shrimp to Europe, and the third largest exporter of shrimp to Japan. For the 2013/14 year, India’s total marine product exports reached a value of US$5 billion, of which 64.12% was shrimp.

“I like to invest in sectors that are not yet fashionable,” Sharma told Deal Street Asia. “Aquaculture is one of them. I believe that India will emerge as a big market in the future.”

Commenting on the investment and the potential he sees in IntensAquatica, Sharma said “This company has a smart set of technology entrepreneurs, who are doing for fish farming what Israeli product firm Netafim did for drip irrigation in India.”

—

Lynda Kiernan