Agritech

Agrizy Secures $9.8M in Series A Funding Co-Led by Accion and Omnivore

• ByStartupStory     |    August 6, 2024

Agrizy, a B2B agri-processing platform, has successfully raised $9.8 million in a Series A funding round. The round was co-led by digital lending non-profit Accion and agri-investor Omnivore. Additional participation came from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.

The fresh capital will enable Agrizy to broaden its reach into new product areas and geographical markets. The company also plans to launch contract development and manufacturing organization (CDMO) and value-added advisory services. Moreover, Agrizy aims to offer financial services to MSME processors and farmer-producer organizations, further enhancing their operational efficiency.

John Fischer, Chief Investment Officer at Accion, expressed optimism about the partnership, stating, “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities. Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time.”

Founded in 2021 by Vicky Dodani and Saket Chirania, Agrizy is a Bengaluru-based agritech company focused on integrating technology into the agricultural sector. The company targets the processed agri-food supply chain, aiming to enhance the efficiency and sustainability of food processing and distribution by connecting various stakeholders, including suppliers, processors, and buyers of agricultural products.

Last year, in May, Agrizy secured $5 million in debt funding from Vivriti Capital, YES Bank, SBI, and others. This followed a $4 million funding round led by Ankur Capital a year earlier.

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