Bengaluru, January 18
Arya.ag, an integrated grain commerce platform, has raised $60 million in Series C round in a mix of equity and debt.
Of the $60 million raised, $44 million was raised in equity and $16 million in debt. The equity round was led by Asia Impact SA, Lightrock India and Quona Capital. The agritech platform raised debt financing from the US International Development Finance Corporation (DFC) among others. Arya.ag intends to use the fund to capture over 20 per cent of the $100-billion grain commerce market.
Chattanathan Devarajan, co-founder, said, “ the funding round will help gain market share for the core offerings and add more services to consolidate its position in the market. We have visibility on grains worth over $2 billion on the Arya platform, and this number is growing rapidly as we gather data from warehouses around the country, We believe that these partnerships, old and new, are an endorsement of Arya’s strength to drive penetration and lead transformation within the sector.”
“Through the pandemic, we have seen Arya transform agri-commerce across India. Arya will help accomplish Asia Impact’s vision to integrate rural under-served farming communities across Asia to markets at scale,” said Matteo Pusineri, director of Asia Impact SA.
Connecting sellers, buyers
Arya.ag connects sellers and buyers of agri-produce, providing complete assurance on quantity, quality, and payments. The platform eliminates distress sales of farmers’ produce by enabling farmgate storage and seamless finance options, offering farmers the freedom of when and whom to sell to.