Total amount raised
$18.8 Millions
Latest funding date
8/1/2024
Location
Agrizy has successfully raised funding through multiple rounds, with notable investors including Ankur Capital and Orbis. The platform offers supply chain solutions for agribusinesses, connecting processors and buyers of non-perishable farm products.
Keep reading to explore the intricacies of Agrizy's fundraising journey and the investors backing this innovative platform.
What Is Agrizy?
Agrizy, founded in 2021, is based in Bengaluru, Karnataka, India. The company was established by Saket Chirania and Vicky Dodani.
Specializing in agri-processing, Agrizy connects processors and buyers of non-perishable farm products, offering supply chain solutions that streamline operations and ensure quality.
With a team of 101-250 employees, Agrizy leverages technology to provide efficient logistics, financial assistance, and optimal pricing for agribusinesses.
How Much Funding Has Agrizy Raised?
- Seed Round
- Amount Raised: $4M
- Date: April 2022
- Lead Investors: Ankur Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of Agrizy's platform.
- Debt Financing
- Amount Raised: ₹410M (approximately $5M)
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for operational and expansion purposes.
- Series A
- Amount Raised: ₹820M (approximately $9.8M)
- Date: August 2024
- Lead Investors: Accion, Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new product areas and geographies, launch CDMO and value-added advisory services, and offer financial services to MSME processors and FPOs.
Total amount raised: $18.8M. Current valuation: Not publicly disclosed.
Key Investors
- Accion
- Details: Accion is a global nonprofit organization dedicated to creating a financially inclusive world. They partner with financial service providers to deliver high-quality financial services at scale to underserved communities.
- Investment Focus Areas: Financial Inclusion, Microfinance, Fintech
- Notable Investments: Konfio, CrediJusto, Tienda Pago
- Omnivore
- Details: Omnivore is an impact venture capital firm that funds entrepreneurs building the future of agriculture and food systems. They focus on startups that improve the profitability and sustainability of agriculture.
- Investment Focus Areas: Agriculture, Food Technology, Rural Development
- Notable Investments: DeHaat, Stellapps, AgNext
- Ankur Capital
- Details: Ankur Capital is an early-stage venture capital firm that invests in transformative technologies for the next billion Indians. They focus on sectors that have a significant impact on society, including agriculture, healthcare, and education.
- Investment Focus Areas: Agriculture, Healthcare, Education
- Notable Investments: CropIn, Niramai, String Bio
- Capria Ventures
- Details: Capria Ventures is a global investment firm that partners with fund managers and businesses to deliver superior returns in emerging markets. They focus on sectors that drive economic growth and social impact.
- Investment Focus Areas: Emerging Markets, Financial Services, Healthcare
- Notable Investments: Agrofy, iProcure, Kopo Kopo
- Thai Wah Ventures
- Details: Thai Wah Ventures is the venture capital arm of Thai Wah Public Company Limited, a leading agribusiness company in Southeast Asia. They invest in innovative startups in the agribusiness and food sectors.
- Investment Focus Areas: Agribusiness, Food Innovation, Sustainable Agriculture
- Notable Investments: Not publicly disclosed
What's Next for Agrizy?
Agrizy stands at the cusp of significant growth, with opportunities to expand into new product areas and geographies. The Indian agri-processing market, valued at $400 billion and growing at 9% annually, offers a vast landscape for Agrizy to tap into. By launching CDMO and value-added advisory services, and providing financial services to MSME processors and FPOs, Agrizy aims to transform India into a global food processing hub.
Future fundraising rounds seem likely as Agrizy scales its operations to meet these ambitious goals. The company’s focus on leveraging technology to streamline procurement and sales cycles for MSMEs aligns with industry trends, making it an attractive prospect for investors. However, challenges such as ensuring compliance with global quality standards and providing adequate financial services to underserved stakeholders remain. Navigating these hurdles will be crucial for Agrizy's sustained growth and success.
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