Samreen Ahmad · · 1 min read🇮🇳 agritech startup raises $60m in equity, debt funding
Arya, an India-based agritech platform, has raised US$60 million in series C funding in a mix of equity and debt.
Photo credit: zatletic / 123RF
Asia Impact SA, Lightrock India, and Quona Capital led the equity round. The agritech platform also raised debt funding from the US International Development Finance Corporation, among others.
Arya plans to use the fresh funds to capture over 20% of India’s US$100 billion grain commerce market. The startup offers post harvest services to the grain producers in India.
It connects sellers and buyers of agricultural produce, specifically food grains. It eliminates distress sales of farmers’ produce by enabling storage and finance options, offering farmers the freedom of when and whom to sell to.
Arya currently manages over 3 million tons of produce across 21 states in India. It has nearly 10,000 warehouses listed on its platform for commodity storage.
See also: The key players in Indonesia’s promising agritech space
Editing by Collin Furtado and Lorenzo Kyle Subido
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