Wednesday, June 7, 2023
HomeInsightNews & Update Agritech startup raises $60 mn in series C funding round

[Funding alert] Agritech startup raises $60 mn in series C funding round

Agritech startup
Agritech startup

Agritech startup has raised $60 million, valuation at $300 million from Asia Impact SA, Lightrock India & Quona Capital.

Arya is India’s leading Agritech which has been working at the farmgate to strengthen agriculture value chains through its integrated range of services.

Driving technology through a human-centered approach, Arya’s Agritech and Fintech platform leverages technology to bridge the Last Mile. Through its profitable business model with over 5.0 million tonnes of storage capacity across 5,500 warehouses in 21 Indian states, Arya helps farmers, aggregators, Farmer Producer Organisations, food processors and end-user corporates avoid post-harvest losses.

Powered through its platform, Agritech startup, it efficiently connects the supply side of the Agri ecosystem with the demand side through a comprehensive portfolio of agri-services. Arya assists sellers of agri-commodities to avoid distress sale of produce by extending post-harvest credit. It has completed loan disbursements of over Rs 4400 Crores.

Its integrated and easy-to-use platform also helps users to choose ancillary services like warehouse management, access to finance, quality testing, storage protection services and connects produce to buyers through a robust technology-enabled back-end ecosystem.

Until 2013, Arya was part of the JM Baxi Group. That year, Prasanna Rao and Anand Chandra acquired a controlling stake in the company. Prasanna had previously been the Head of Agri Commodity Finance at ICICI Bank, while Anand was previously ICICI Bank’s National Product Head for Agri Commodity Finance. More recently, they were joined by Chattanathan D, the former Group Product Head of the Rural and Inclusive Banking Group at ICICI Bank.



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