Agritech startup Agrizy has secured $9.8 million (approximately ₹82 crore) in a funding round co-led by Accion and Omnivore.
Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital also participated in this round, according to Agrizy’s statement on Monday. The company has not disclosed its valuation for this round.
Agrizy plans to use the funds to expand into new product areas and markets. They will also launch contract development and manufacturing organizations (CDMO) and value-added advisory services and provide financial support to MSME processors and farmer-producer organizations (FPOs).
Previously, Agrizy raised $4 million in April 2022, led by Ankur Capital.
Founded in 2021 by Vicky Dodani and Saket Chirania, the Bengaluru-based platform connects agricultural suppliers, processors, and buyers of farm products in both food and non-food categories. This connection helps optimize transactions and fulfil needs effectively.
“Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets and comply with global quality standards while offering these underserved stakeholders working capital from formal financial institutions,” said co-founder and chief executive Dodani.
The startup supports agrifood processing MSMEs by offering digital services that enhance long-term revenue, improve operating margins, and streamline procurement and sales processes.
Agrizy serves over 100 institutional clients in India and internationally, including regions like Europe, North America, and Asia.
John Fischer, chief investment officer at Accion, said, “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.”
“The company’s foray into contract manufacturing is critical for streamlining intricate, export-oriented supply chains,” said Mark Kahn, managing partner at Omnivore.
