Agritech platform Arya.ag, operated by Arya Collateral Warehousing Services Pvt Ltd, has raised Rs 725 crore (about $80.6 million) in a Series D funding round from private equity firm GEF Capital Partners.
The fresh capital will be used to promote climate-smart, market-led agricultural practices among farmers, expand access to technology solutions, and implement measures to control post-harvest losses.
The investment was largely primary with a small secondary component that saw some early investors pare their stakes, said a person familiar with the development.
Avendus Capital acted as the exclusive financial advisor to the deal, while PwC, law firm JSA, and Aeka provided advisory support.
In July 2024, Arya.ag had raised $29 million (Rs 242 crore) in a pre-Series D round led by Switzerland-based Blue Earth Capital at a valuation of Rs 2,700 crore, according to VCCEdge, the data and research platform of VCCircle.
Earlier, in 2016, Arya.ag raised Rs 13 crore from Aspada Investment Company for a 13.98% stake, translating to a valuation of Rs 93 crore.
For the financial year ended March 2024, the company reported a profit of Rs 17 crore on revenues of Rs 360 crore.
During April-September 2024, net revenues rose 28% year-on-year to Rs 300 crore, while profit increased 39% to Rs 31.5 crore, the company said.
Founded in 2013 by Prasanna Rao, Chattanathan Devarajan, and Anand Chandra, the company connects sellers and buyers of agricultural produce through its platform, offering assured quantity, quality, and payment. The company also provides farmgate storage and finance options, allowing farmers to sell produce at their convenience.
The company’s network spans 12,000 agri-warehouses with the capacity to store $3 billion worth of grain annually and facilitate over $1.5 billion in loans to agricultural stakeholders.
