Latest News | Agritech Firm Arya.ag Raises About Rs 450 Cr for Business Growth
Get latest articles and stories on Latest News at LatestLY. Agritech firm Arya.ag on Tuesday said it has raised USD 60 million (around Rs 450 crore) in equity and debt from investors to expand its business.
New Delhi, Jan 18 (PTI) Agritech firm Arya.ag on Tuesday said it has raised USD 60 million (around Rs 450 crore) in equity and debt from investors to expand its business.
In a statement, Arya.ag, an integrated grain commerce platform, announced the close of its Series C round, having raised USD 60 million in a mix of equity and debt.
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The equity round was led by Asia Impact SA, Lightrock India and Quona Capital.
It also raised debt financing from the US International Development Finance Corporation (DFC), among others.
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This funding round will help the company to gain market share and add more services, Arya.ag said.
The company provides its services across 425 districts in 21 states.
Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to sellers.
It facilitates over USD 600 million of finance annually.
Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments.
The platform seeks to eliminate distress sales of farmers' produce by enabling farmgate storage and seamless finance options.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)