Agritech Startup Arya.Ag Raises $60 Million In Series C Funding
Arya.ag, a Noida-headquartered integrated grain commerce platform, has raised $60 million in a Series C funding round in a mix of equity and debt.
In this funding round, the $46 million equity component was led by Asia Impact SA and returning investors Lightrock India and Quona Capital.
The agritech startup was part of the JM Baxi Group till 2013, following which former ICICI Bank Agri Commodity Finance executives Anand Chandra and Prasanna Rao acquired a 65% stake in the company. In 2019. Prasanna and Anand were joined by former Group Product Head of the Rural and Inclusive Banking Group at ICICI Bank, Chattanathan.
Arya.ag | Agribusiness Value Chain Integrator
Arya.ag is simplifying agribusiness and has been working with a vision to strengthen agriculture value chains through its integrated range of services. Its business includes warehousing and warehouse-receipt financing solutions targeting smallholder farmers, farmer producer organisations, small aggregators, and agribusiness corporations.
Speaking about the development, Anand Chandra, Co-founder and Executive Director of Arya.Ag, said,
“With the current round of funding, we plan on growing our business platform for grain commerce from $200 million ARR (Annual Recurring Revenue) to reach $1 billion ARR over the next 12 months. We will also expand our presence from 55 percent districts of India to cover 75 percent districts and add new layer of pre-harvest services.”
Leveraging technology, the agritech startup helps farmers, aggregators, Farmer Producer Organisations, food processors, and end-user corporates avoid post-harvest losses. It connects farmers to buyers, offering logistics solutions. Arya.Ag offers year-round supply to SME and corporate buyers through visibility into 10,000 commodity storage points across the country.
The agritech startup is also evolving co-lending models as part of its NBFC arm, Arya Dhan, which offers collateral-based loans.
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