Jaipur | Rajshree Upadhyaya |Founder Abhijeet Naohate, along with co-founders Nikhilesh Hajare and Rohit Patel, established aquaculture innovation company Corel Lifecare by focusing on improving fish and shrimp farming through science-based solutions. When the trio appeared on Shark Tank India, they brought attention to a sector that plays a major role in India’s food economy but remains largely unrecognized by the general public. Through Corel Lifecare, they introduced the sharks to the world of aquaculture biotechnology. The startup’s practical business model, industry expertise, and farmer-centric approach eventually helped them secure a deal with Anupam Mittal and Kunal Bahl.
Corel Lifecare officially began operations in 2023 with a focus on aquaculture, although the legal entity behind the business had existed since 2018 before evolving into its current form. The founders entered the market with a clear objective: solving one of the biggest challenges faced by fish and shrimp farmers – maintaining pond health and improving productivity without excessive dependence on harmful chemicals.
At a time when India’s aquaculture industry was growing rapidly, the founders saw an opportunity to build a technology-driven company that combined scientific formulations with on-ground support for farmers. The company specializes in aquaculture supplements, bio-formulations, probiotics, oxygen enhancers, mineral supplements, and pond health management solutions designed specifically for Indian farming conditions.
Rather than simply selling products through distributors, Corel Lifecare built its business around a “lab-to-farm” model. The company’s teams interact directly with farmers, analyze pond conditions, identify issues affecting fish and shrimp growth, and recommend customized solutions aimed at improving water quality and survival rates.
Built a Growing Network of More Than 1,500 Farmers
Abhijeet Naohate’s industry experience became the backbone of the startup. A fisheries postgraduate with over ten years of experience in the aquaculture sector, he had previously worked with companies such as Skretting and Biostadt. His understanding of the practical challenges faced by farmers helped shape Corel Lifecare’s service-oriented approach. While many companies in the sector focused solely on product sales, Corel Lifecare positioned itself as a long-term partner for farmers by offering both technical guidance and scientific support.
During their Shark Tank India pitch, the founders revealed that the startup had already built a growing network of more than 1,500 farmers across several Indian states, supported by over 120 connect partners and consultants. The sharks appreciated the founders’ deep understanding of the industry and their grassroots-level strategy. Anupam Mittal especially praised the team for demonstrating a strong founder-market fit and acknowledged that their domain expertise gave the company credibility in a highly specialized market. The company’s financial performance also attracted attention during the pitch. By 2025, Corel Lifecare had reportedly generated around Rs. 2.3 crore in revenue and projected nearly Rs. 6 crore for the financial year while remaining EBITDA positive. Initially, the founders sought Rs. 1.2 crore for 2 percent equity at a valuation of Rs. 60 crore.
Expanded Presence in the Fisheries and Shrimp Farming Industry
After discussions around scalability and valuation, the founders finalized a deal with Anupam Mittal and Kunal Bahl for Rs. 1.2 crore in exchange for 8 percent equity, valuing the business at Rs. 15 crore. Following their appearance on Shark Tank India, Corel Lifecare gained greater recognition within the aquaculture ecosystem, especially among investors interested in agricultural technology. The company continues to expand its presence in India’s fisheries and shrimp farming industry. Through its science-driven approach and farmer-focused model, Corel Lifecare has positioned itself as a growing player in the country’s expanding aquaculture sector while promoting more sustainable and efficient farming practices.
