Agraga Raises Rs 70 Crore in Series A Funding Round Led by IvyCap Ventures

• ByStartupStory     |    May 16, 2023

Agraga, the digital logistics platform, secures Rs 70 crore in Series A funding led by IvyCap Ventures Advisors Private Limited, accompanied by Alteria Capital. The raised capital will fuel Agraga’s expansion plans, aiming to increase its presence from three cities to over 15 cities by March 2024. Additionally, the funds will be utilized to strengthen technological capabilities and optimize supply chain partnerships, driving efficiency in operations.

Furthermore, Agraga aims to enhance its technological infrastructure to offer comprehensive logistics solutions on a global scale. This will be accompanied by improved integration with asset partners such as air and ocean carriers, warehouses, transporters, and customs departments, driving operational efficiency. Tej Kapoor, the Managing Partner of IvyCap Ventures, will represent the VC firm on the board of Agraga.

Venkatesh Narayanaswamy, the CEO and Co-founder of Agraga, stated, “As we persist in expanding our footprint both nationally and globally and adhering to our low-touch model, Agraga can offer scalable logistics solutions to MSMEs. Our core objective is to furnish our customers and partners across the globe with an exceptional experience while simultaneously generating lasting value for our stakeholders.”

Agraga, established in 2021 by Anoop Raghavan and Venkatesh Narayanaswamy, offers an integrated digital logistics platform that streamlines cross-border logistics by incorporating asset holders. The startup delivers a frictionless digital experience across the entire shipment cycle, from reservation to monitoring to execution. At present, Agraga serves over 200 customers, including both MSMEs and enterprise segments, and has over 500 digitally connected partners across more than 30 countries, providing cutting-edge logistics solutions.

With the goal of enhancing price discoverability, transparency, route optimization, and faster turnaround times, the startup strives to eliminate numerous intermediaries by leveraging its digital platform. IvyCap Ventures, headquartered in Mumbai and established in 2011, is a sector-agnostic venture capital firm managing assets worth $530 million. The firm boasts a diverse portfolio of over 30 companies spanning various sectors including ConsumerTech, HealthTech, Fintech, EdTech, SaaS, Enterprise Tech, DeepTech, and more.

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