Agrizy Raises Rs 82 Crore for Agri-Processing Expansion

Mumbai, Aug 5 (PTI) Agri-processing platform Agrizy on Monday said it has raised Rs 82 crore in a funding round led by Accion and Omnivore.

Capria Ventures, which calls itself a global south specialist venture capital firm, Thai Wah Ventures, and existing investor Ankur Capital also participated in the Series A funding round, as per an official statement.

The company, which has a B2B agri-processing platform, will utilise the funds to expand its services into new product areas and geographies, develop advisory services, and offer financial services for processing businesses and farmer-producer organisations.

Agrizy aims to scale up its business by aggregating excess capacity from hundreds of small-scale agri-processors for both Indian and international markets, the statement said.

It pegged the agri-processing market as a USD 400 billion opportunity in India growing at 9 per cent annually, the statement said, adding only a tenth of the agri-produce gets processed in India at present.

There are over 20 lakh business units in food processing close to the producing regions struggling to connect with brands nationwide, the statement said, adding that this is where the company sees an opportunity by offering a fully managed B2B marketplace in agrifood supply chain and processing.

"We are confident that their technology-enabled solution, enhanced by IoT-based sensors and Generative AI, will make Agrizy a trusted partner for both domestic companies and importers across the globe," Capria's managing partner Surya Mantha said.

The company's co-founder and chief executive Vicky Dodani said it will help FPOs and MSME processors comply with global quality standards while offering these underserved stakeholders working capital from formal financial institutions.