[Update] Exclusive: Arya.ag To Raise $29 Mn Funding From Blue Earth Capital, Others

SUMMARY

This is the startup’s pre-Series D round and will also see participation from existing investors Asia Impact SA and Quona Capital

The startup might raise additional funding in this round, sources said, adding that Arya.ag is also eyeing a debt round and a larger Series D round by the end of the year

The agritech startups posted a profit of INR 17 Cr in FY24 on a revenue of INR 360 Cr, the sources said

Update | July 10, 2:50PM

Almost a week after Inc42 exclusively reported about Arya.ag raising its pre-Series D funding round, the startup today officially announced the fundraise.

Arya.ag intends to utilise the funds for 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 startup will also use the funding to initiate partnerships to improve package of practices (PoP) 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.

Original Story | July 4, 6:40 PM

Delhi NCR-based agritech startup Arya.ag is raising $29 Mn (about INR 242 Cr) in a fresh funding round, as per its regulatory filing. Inc42 has learnt from sources that this is the startup’s pre-Series D round.

The fresh round of funding is being led by Switzerland-based impact investment firm Blue Earth Capital, which is a new investor in the startup. Existing investors Asia Impact SA and Quona Capital will also participate in the round.

The startup might raise additional funding in this round, the sources added. Arya.ag is currently valued at INR 2,400 Cr.

Besides, the startup is also eyeing a debt funding round and a larger Series D funding round by the end of the year.

A detailed questionnaire sent to Arya.ag didn’t elicit any response till the time of publishing of this story.

The funding round comes over two years after the startup raised $60 Mn in its Series C funding round from Luxembourg-based Asia Impact SA, Lightrock India, and Quona Capital, among others, at a valuation of INR 2,200 Cr.

Founded in 2013 by Prasanna Rao, Anand Chandra, and Chattanathan Devarajan, Arya.ag has three verticals – Arya Collateral, Aryadhan, and Aryatech. Arya Collateral offers warehousing storage facilities, which is the core business of the startup. It claims to store grains worth around $3 Bn annually.

Aryadhan, which is a fintech entity, was launched in 2017 to offer agriculture loans against commodities. The startup has partnered banks and digital lenders to offer such loans. It has disbursed loans worth $1.5 Bn to small-holder farmers, their organisations, and other stakeholders till date.

Besides, Arya.ag launched Aryatech in 2021 to offer online marketplace solutions to sell and purchase food grains.

The sources said that the startup reported a profit of INR 17 Cr in the financial year 2023-24 (FY24) on a revenue of INR 360 Cr. Its profit stood at INR 7.5 Cr in FY23 and revenue at INR 290 Cr.

Overall, Arya.ag has raised a total funding of over $100 Mn till date.