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Arya.ag raises $29 mn in Pre-Series D Funding
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Saturday, 13 July, 2024, 14 : 00 PM [IST]
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Our Bureau, New Delhi
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Arya.ag, India's largest integrated grain commerce platform, has announced that it has raised $29 million in a Pre-Series D funding round. The round was led by Switzerland-based investment firm Blue Earth Capital, a new investor in Arya, in partnership with Quona Capital. The round also included participation from existing investors Asia Impact and Quona Capital.
It offers a comprehensive agri-commerce platform that seamlessly connects sellers and buyers of agriproducts to facilitate and streamline commerce, driving efficiencies and reducing waste, to the benefit of the entire market. The platform integrates warehouse discovery, farmgate-level storage, finance and market linkages, providing a comprehensive solution across the entire value chain while addressing market inefficiencies.
It plans to utilise the Pre-Series D funds to gain market share and improve its profitability. ??The Group plans key strategic initiatives, including the deployment of satellite technology for improved farm productivity, reduced waste, and greater transparency and visibility across the value chain. The company will also use the funding to initiate partnerships to improve Package of Practices on-farm and measures to reduce food loss across the supply chain, which will enhance climate resilience for its farmer base, improving the incomes of over 1,200 Farmer Producer Organisations (FPOs) while also delivering improved climate outcomes.
It is the only Indian agritech platform at scale to report profits of Rs 17 crore over revenue of Rs 360 crore in FY24. The company saw a profit growth of over 36% compared to FY23.
Rohan Ghose, director of Private Equity Partnerships at Blue Earth Capital, said, “We are incredibly proud to invest in Arya.ag, a company that is helping create a more dynamic and resilient agricultural market in India. This investment aligns perfectly with Blue Earth Capital’s mission of addressing some of the world’s most pressing social and environmental challenges and, by backing this innovative company and its exceptional management team, we are not only fostering agricultural advancements but also contributing to the economic growth and sustainability of rural communities and farmers across India.”
Christian Banno, chief investment officer of Asia Impact, said, “At Asia Impact, we believe that leveraging private capital for the public good can help build a more equitable and sustainable future for all. Arya.ag’s work with farmers, FPOs and ‘climate champions’ to build trust, optimise resource allocation, and minimise adverse environmental impacts has been extremely impactful, especially in the face of climate-induced stress in agriculture. We hope that together we can strengthen these networks and create value for all stakeholders in the agricultural ecosystem.”
Prasanna Rao, Arya.ag’s CEO and co-founder, said, “The Pre-Series D funding from Blue Earth Capital, along with the continued support from Asia Impact SA and Quona Capital, validates our philosophy of creating a commercially attractive business model delivering value to all stakeholders in the agri-ecosystem, especially the smallest of stakeholders at the fringes of inclusion. This investment will help accelerate our growth trajectory. With these funds, we plan to expand our reach, serve more farmers and buyers, and introduce innovative offerings to strengthen our position as India's most trusted agri-commerce platform.”
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