Corel Lifecare, a Thane based aquaculture startup, has secured an investment on Shark Tank India Season 5 to support the expansion of its aquaculture supplements and bio formulations designed for Indian water conditions and climate. The company raised INR 12 million for eight percent equity from investors Anupam Mittal and Kunal Bahl, resulting in a post money valuation of INR 150 million.
Focus on India’s Aquaculture Needs
India’s extensive coastline and growing fisheries sector have intensified the demand for scientific solutions in aquaculture. Addressing this need, Corel Lifecare entered Shark Tank India Season 5 with a portfolio of 11 specialised aquaculture supplements developed specifically for Indian environments. The company positions its offerings around practical, science backed applications for fish and shrimp farming.
Building an On Ground Farmer Ecosystem
Moving beyond conventional trading models, Corel Lifecare has established an on ground ecosystem that currently works with over 1,500 farmers across six states. This network is supported by 120 connect partners and field consultants who provide hands on guidance alongside product deployment. Through this approach, the company aims to help farmers improve productivity within India’s aquaculture market, which is valued at over INR 30 billion.
Founding Team and Technical Expertise
The Corel Lifecare is led by Abhijeet P Naohate, a Fisheries Master with 12 years of industry experience, along with co-founders Nikhilesh Hajare and Rohit Patel. The founding team highlighted the importance of domain expertise in developing supplements tailored to local farming conditions and operational realities.
Also read: MEST Africa Report: How Agritech Can Reconnect West Africa’s Fragmented Agri Value Chain
The Shark Tank Pitch and Deal Outcome
During their appearance on Shark Tank India Season 5, the founders presented their business around the potential of India’s Blue Economy. They initially sought INR 12 million for two percent equity, which led to detailed negotiations with the sharks. The discussions concluded with a joint investment from Anupam Mittal and Kunal Bahl, who together invested INR 12 million for eight percent equity to support the company’s nationwide scale up.
Reflecting on the experience, the founders stated that the Shark Tank platform helped refine their vision and strategy. They noted that the backing of Anupam Mittal and Kunal Bahl represents an important step toward strengthening efficient aquaculture practices in India, with a focus on equipping aqua farmers with scientific solutions suited to local conditions.
Expansion Plans and Sector Impact
The funding will be used to expand Corel Lifecare’s range of bio formulations and supplements for fish and shrimp farming. The company plans to scale operations through its existing network of 120 partners and consultants, with the objective of deepening its presence across the six states where it currently operates. The investment underscores investor interest in aquaculture solutions that address operational challenges such as pond health and parasite control, while supporting growth in India’s aquaculture sector and its network of 1,500 farmers.