Agritech

Arya.ag Secures $19.8 Million Funding from US International Development Finance Corporation

• ByStartupStory     |    October 29, 2024

Arya.ag, a leading grain commerce platform, has successfully secured $19.8 million from the US International Development Finance Corporation (DFC). The funds will be utilized to guarantee a debt facility for its agri-commerce subsidiary, Aryatech, aimed at enhancing connections between farmers, Farmer Producer Organizations (FPOs), and buyers nationwide.

This funding comes on the heels of a recent equity round where the agritech start-up raised $29 million. The latest investment is expected to play a significant role in transforming the agricultural marketplace by ensuring payment security, transaction transparency, and improved market access for farmers and FPOs.

“The facility will enable us to connect more farmers and FPOs to buyers much beyond their existing networks, creating a more efficient and inclusive agricultural marketplace,” said Prasanna Rao, Co-founder and CEO of Arya.ag.

Founded in 2013, Arya.ag is committed to streamlining commerce in the agricultural sector by connecting sellers and buyers of agriproducts. The platform focuses on driving efficiencies and reducing waste, benefiting the entire market ecosystem. It integrates various services including warehouse discovery, farmgate-level storage, finance, and market linkages, offering a comprehensive solution across the agricultural value chain. The company reported a profit before tax of ₹22 crore in FY24, showcasing its growth and sustainability in the industry.

 

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