Tepbac lands $2.25m pre-Series A

Tepbac, our AgFunder GROW Impact Accelerator cohort 3 alumnus, recently clinched $2.25m in pre-Series A funding. AgFunder, Aqua-Spark and Son-Tech Investment participated in the round.

With the funding, Tepbac will scale up its technologies and deliver cost-savings and improved decision-making for shrimping operations across Vietnam.

Lissy Smit, CEO of Aqua-Spark shared that, “With Vietnam’s focus on increasing sustainable production of aquaculture and the limited number of aquatech companies currently serving the Vietnamese, Tepbac is uniquely positioned to digitize aquaculture while solving pain points along the way”.

Safeguarding the future of shrimp production

Vietnam ranks among the world’s top 5 shrimp producers, experiencing 11% year-on-year export growth (Vietnamese Association of Seafood Producers and Exporters). However, Lam Nguyen, co-founder of Tepbac, has identified many challenges hindering the viability of domestic shrimp production, such as over-reliance on human labor and lack of apt farm management solutions.

Both sons of shrimp farmers, Tepbac co-founders Lam Nguyen and Tran Duy Phong have designed a uniquely farmer-centric shrimp management platform, which aims to simplify and reduce operating costs and in turn, drive up profits. Furthermore, Tepbac’s monitoring and tracking systems can help farms transition to more sustainable practices.

To date, Tepbac has served about 1,500 farms, ranging from small- and large-scale farmers to shrimp processing plants to the government.

Congratulations to the team at Tepbac!