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New Delhi, Jan 18 (IANS) Integrated grain commerce platform Arya.ag on Tuesday said it has raised $60 million in its Series C round via a mix of equity and debt, and aims to capture 20 per cent of $100 billion grain commerce market.
The equity round was led by Asia Impact SA, Lightrock India and Quona Capital. The agritech platform also raised debt financing from the US International Development Finance Corporation (DFC), among others.
Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments.
The platform also claims to eliminate distress sales of farmers' produce by enabling farmgate storage and seamless finance options, offering farmers the freedom of when and whom to sell to.
"We have visibility on grains worth over $2 billion on Arya platform. This funding round will help us gain market share for our core offerings and add more services to consolidate our position as India's most trusted platform in agriculture," said Chattanathan Devarajan, Arya's co-founder.
With visibility into over 10,000 commodity storage points across the country, Arya said it assures year-round supply to SMEs and corporate buyers with embedded financing options.
"Through the pandemic, we have seen Arya transform agri-commerce across India," said Matteo Pusineri, director of Asia Impact SA.
The platform has presence in 425 districts in 21 states with 10,000 warehouses.
--IANS
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