Insitor Partners leads Cambodian agritech startup’s pre-series A round

Azaylla, a Cambodia-based agritech startup, has raised an undisclosed amount of pre-series A money from Insitor Partners through its Insitor Impact Asia Fund II.

Photo credit: Azaylla

Founded in 2019 by Parth Borkotoky, Azaylla provides supply chain solutions for farmers across Cambodia, helping them process and distribute fresh produce worldwide.

The company will use the new funds to expand its business network and invest in tech to improve supply capacity for supermarkets, hotels, restaurants, and caterers. It also plans to launch an online B2B platform that incorporates consumer insights, market data, and curation to provide better pricing and availability for its business partners.

The fresh capital comes after the startup secured its first round of funding last year from Uberis Capital, a local VC firm.

According to Azaylla, Cambodia currently has to import about 70% of its fresh produce from countries such as Vietnam and Thailand. The startup aims to boost domestic production by helping local farmers improve crop quality and increase yields, as well as by providing them access to credit.

The round marks Insitor Partners’ ninth investment in Cambodia. The VC firm was founded in Phnom Penh in 2009 and is now headquartered in Singapore.

Insitor Partners targets early-stage startups that cater to low-income customers across Asia. Earlier this year, the firm secured the first close of its Impact Asia Fund II with a US$42 million raise. It aims to rack up US$70 million more for the second close of the fund by the end of the year.

See also: Meet the 50 top-funded startups and tech companies in Southeast Asia