Fishwaale is the first e-fish marketplace of India, which emerged from a small town of Assam. Let’s go through their journey and vision to create a tech-enabled solution for the fish marketplace.
Bhaswati Kalita
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Updated on :
In the evolving digital landscape in Assam, Fishwaale has emerged as a pioneering force, transforming India’s unorganized fish market into a structured, tech-enabled ecosystem. Launched in 2020, this e-fish marketplace bridges the gap between fish farmers and consumers, solving decades-old challenges with innovative solutions.
Image: Founder of Fishwaale (right), Razaqul Islam, posing for a photo
The Entrepreneurial Spirit of the Founder
Razaqul Islam, the founder and CEO of Fishwaale, epitomizes the entrepreneurial spirit. A 2018 graduate in Instrumentation Engineering from Assam Engineering College, Razaqul always envisioned himself as a businessman. To earn his father’s trust, he cracked a job at the Merchant Navy. He convinced his father that he is capable of doing any job, but he is interested in entrepreneurship. This move won his father’s trust and secured initial investment from his father to start Aqua Blue Global Aquaculture Solutions Private Limited, the parent company of Fishwaale.
How He Identified the Problem?
Growing up in a family involved in the fish business, Razaqul observed critical challenges firsthand:
- Knowledge Gaps: Fish farmers lacked technical expertise to optimize production.
- Trust Issues: Business-to-business deals were plagued by concerns over quality and delayed payments.
- Price Volatility: An unmanaged supply chain led to unpredictable price fluctuations.
- Lack of Proper Feeding: Farmers struggled to maintain fish health due to insufficient feeding supplements.
These challenges presented an opportunity to innovate and organize the fish market.
The Golden Fish Triangle: A Solution that Builds Trust
Fishwaale tackled these problems with a comprehensive approach focused on three pillars:
- Seed: Ensuring the availability of high-quality fish seed.
- Feed: Providing proper feeding supplements for healthier fish.
- Management: Introducing efficient farming practices.
They tested this model with a single farmer, proving its efficacy. The success story of the “model farmer” became a blueprint for onboarding others.
The Fishwaale App: India’s First e-Fish Marketplace
Fishwaale introduced an app to digitize fish farming and distribution. The platform connects farmers directly with vendors and consumers, enabling seamless transactions. Today, Fishwaale boasts impressive stats:
- 12,000 App Users
- 3,000 Farmers
- 3,000 Customers
This direct model reduces costs, increases transparency, and ensures high-quality fish products.
How Fishwaale Helps Fish Farmers
Tech Integration: With data analytics, farmers can predict demand trends and optimize production.
Fishbook: A unique platform where farmers can post queries and receive expert consultations, making technical knowledge accessible.
How Fishwaale Benefits Consumers
- Quality Assurance: Fishwale offers fresh, chemical-free fish directly from farmers.
- Cost Efficiency: Consumers, including vendors, can order fish in bulk at competitive prices.
Revenue and Growth Milestones
Fishwaale’s journey from its inception in October 2020 to a revenue powerhouse is remarkable:
- First Year (2020-2021): ₹1.1 crore
- Second Year (2021-2022): ₹4.6 crore
- Third Year (2022-2023): ₹7.8 crore
These figures represent earnings from selling fish products, excluding app service revenues.
The Journey of Entrepreneurship
For Razaqul and his team, entrepreneurship is more than business; it’s a passion to uplift communities and solve societal problems. COO Farhana Tasneem and CTO Pranjal Kumar Saikia share this vision, fostering an environment of innovation and impact with their 13-member team.
Advice for Aspiring Entrepreneurs
The founders share these insights for budding entrepreneurs:
- Step Out of the Comfort Zone: Growth begins where comfort ends.
- Embrace the Grind: Work tirelessly but enjoy every moment of the journey.
Office Presence and Community Impact
Fishwaale’s operations are headquartered in Jagiroad, Assam, with offices in three locations. The platform has transformed the lives of thousands of fish farmers by:
- Organizing the unstructured fish market.
- Educating farmers to adopt tech-enabled solutions.
- Training customers to use the app effectively.
Future Roadmap
Fishwaale envisions:
- Expanding operations nationwide.
- Innovating the fish farming ecosystem with advanced technologies.
- Increasing partnerships to drive social and economic impact.
Endnotes
Fishwaale’s journey is a testament to how passion, technology, and vision can revolutionize traditional industries. By addressing core challenges in the fish market, it has created a win-win ecosystem for farmers and consumers. As it scales new heights, Fishwaale is set to redefine India’s fish farming landscape, one catch at a time.
Bhaswati Kalita is a business analyst and storyteller with years of experience in business operations, management, and marketing. She is an engineering graduate and started her professional career as an operations manager in a tech company. To follow her passion as a storyteller, she loves to write business articles and stories. Reach her at bhaswati@diversityassam.com.
