Agri-tech Firm Arya.ag Raises $60 Million From Asia Impact, Lightrock, Others
Summary
While the equity round was led by Asia Impact SA, Lightrock India and Quona Capital, the debt component came from US International Development Finance Corporation, besides other investors. The company which connects sellers and buyers of agriproduce plans to use this capital in expanding warehouses, strengthening employee base and enhancing technology. "On the commerce and the market linkage platform, we are at a $200 million ARR and we endeavour to take it to a $1 billion mark in the next 12 months," said Chandra adding that the company will hire 300 more employees with at least 50 dedicated to the technology segment in the coming months. Founded in 2013 by Chattanathan Devarajan, Prasanna Rao and Chandra enables farmgate storage and provides warehousing and finance solutions to farmers among other things. Arya is successfully bridging the trust gap in post-harvest agri transactions through complete transparency and assurance on quality, quantity and payments," said Varun Malhotra, partner at Quona Capital.
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