Arya.ag Raises USD 29 Million for Agritech Expansion
Jul 10, 2024 16:48
Arya.ag, an agritech startup, secures USD 29 million in funding to expand its integrated grain commerce platform. The investment will be used to gain market share and improve profitability.
New Delhi, Jul 10 (PTI) Agritech startup Arya.ag on Wednesday said it has raised USD 29 million (Rs 242 crore) in a funding round from investors to expand its business.
The company, an integrated grain commerce platform, said in a statement that the amount was raised in a Pre-Series D funding round, led by Switzerland-based investment firm Blue Earth Capital.
The round also included participation from existing investors Asia Impact and Quona Capital.
"Arya.ag plans to utilise the Pre-Series D funds to gain market share and improve its profitability," the company said.
The company posted a profit of Rs 17 crore over revenue of Rs 360 crore in 2023-24. It saw a profit growth of over 36 per cent compared to FY23.
Arya.ag offers an agri-commerce platform that seamlessly connects sellers and buyers of agriproducts to facilitate and streamline commerce, driving efficiencies and reducing waste.
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.