Agritech startup Arya Ag has raised $29 million (Rs 242 crore) in a funding round led by Blue Earth Capital from Switzerland.
Additionally, Luxembourg-based investment firm Asia Impact and Quona Capital joined the round.
Arya Ag will use the funds to grow its market share and boost profitability. The startup will also form partnerships to enhance on-farm Package of Practices (PoP) and implement measures to reduce food loss across the supply chain.
“This investment will help accelerate our growth trajectory. With these funds, we plan to expand our reach, serve more farmers and buyers, and introduce innovative offerings to strengthen our position as India’s most trusted agri-commerce platform,” said cofounder and chief executive Prasanna Rao.
Founded by Rao, Chattanathan Devarajan, and Anand Chandra, the Agritech startup Arya.ag is an integrated grain commerce platform focused on post-harvest services. It operates in 60% of Indian districts and manages 11,000 warehouses.
Arya Ag claims to aggregate and store $3 billion worth of grain each year. Additionally, it has facilitated over $1.5 billion in loans to smallholder farmers, their organizations, and other stakeholders. By 2028, Arya Ag aims to enable more than $3 billion in agri-loans and expand its storage capacity by over four times.
According to Arya Ag, the startup reported a revenue of Rs 360 crore and a profit of Rs 17 crore in FY24.
Commenting on the investment, Rohan Ghose, director of Private Equity Partnerships at Blue Earth Capital, said, “Arya.ag’s work with farmers, FPOs and ‘climate champions’ to build trust, optimise resource allocation, and minimise adverse environmental impacts has been extremely impactful, especially in the face of climate-induced stress in agriculture.”
The firm last raised $60 million in 2022 in a funding round led by Asia Impact SA. Existing investors, including Lightrock India and Quona Capital, also participated in this round.
