In a strategic move that signals a paradigm shift in Bangladesh's fisheries and aquaculture sector, Seaqua, the Dhaka-based blue-tech startup, announced today that it has secured a USD 6-figure investment from influential Middle East investors. The company didn’t disclose the exact figure and investor details of the investment.
Amirul Mostafa Arefeen, Founder & CEO of Seaqua, has a vision for climate-smart fisheries & aquaculture that takes center stage as Seaqua introduces an innovative value chain designed to minimize wastage and enhance efficiency at every juncture. Seaqua leverages cutting-edge technology to eliminate traditional inefficiencies, empowering fisheries and aquaculture producers with a modern and dynamic approach.
Fisheries sector makes an exceptional 3.61% contribution to Bangladesh’s GDP, boasting a $600 million export market (as of 2022). The fisheries sector injects $9.42 billion into the national GDP, meeting 60% of the country's annual protein needs and sustaining over 12% of the population.
Recognizing the immense potential within the market, Seaqua strategically positions itself to take advantage of the lucrative market. Seaqua says its approach aligns seamlessly with the global seafood market's projected growth of $730 billion by 2030.
A feature of Seaqua's tech-forward strategy is the integration of real-time catch records into its supply chain. Beyond providing retailers with accurate, up-to-the-minute information, Seaqua's data-driven approach reshapes the seafood market by ensuring a constant flow of high-quality products with traceability.
With the fresh capital injection, Seaqua says it aims to revolutionize the industry environmentally and economically. The company says its adoption of blockchain technology for traceability maps not only bridges blue finance gaps but ensures a verifiable commitment to compliance, offering a comprehensive solution to the challenges faced by the fisheries and aquaculture industry.