Ocean farming startup, Sea6 Energy has bagged $18.5 million in a Series B funding round from the likes of BASF Venture Capital and Aqua Spark.

The startup which produces and processes tropical red seaweed is focused on reducing India’s dependency on imported oil by replacing fossil fuels with biofuels.

While this endeavour is still a while away, the company has converted the seaweed into bio-stimulants and hopes to become a $100 million company.

Watch video to know how the company is contributing to India’s blue economy.