Agritech startup raises $21 mn via equity, debt
New Delhi: Agritech startup Arya has raised $21 million (about Rs 155 crore) through equity and debt from a clutch of investors, including Quona Capital, to expand its business.
Arya, which is into post-harvest agritech and agri-fintech, on Tuesday, announced the close of its Series B round, raising $21 million in a mix of equity and debt. The equity round was led by Quona Capital, alongside existing investors LGT Lightstone Aspada and Omnivore.
Multiple lenders participated in providing additional debt financing to the company. "The new funding will be used to expand financing to farmers through Arya's embedded fintech arm, Aryadhan, and to strengthen its digital post-harvest services and market linkages platform a2zgodaam.com," the company said in a statement.
Apart from agricultural warehousing services, Arya is also providing digital solutions for storage, processing, financing, and market linkages. Its clients include farmers, farmer producer organisations (FPOs), financial institutions, SME agri processors, commodity traders and corporate agribusinesses.
Arya helps farmers realise better value for their produce through village level commodity storage, integrated financing, and market linkage services to create better options for commodity sales.
Chattanathan Devarajan, Prasanna Rao and Anand Chandra are the founders of the company.