From current investors, agritech startup Arya.ag has raised about Rs 242.36 crore ($29.2 million). The Noida-based company is making its first investment round since January 2022.
According to Arya.ag’s regulatory filing retrieved from the RoC, the board approved a special resolution to issue 53,695 CCPS at an issue price of Rs 45,137 each in order to raise the aforementioned amount of $29.2 million.
Prior backers Asia Impact and Quona Capital, via Quona Blue Earth and Accion Quona, have given the company Rs 134.46 crore.
According to media estimates, the company’s post-allotment valuation is approximately Rs 2,700 crore, or $325 million. The company might raise additional money, in which case the valuation would change.
Including a $60 million Series C round led by Asia Impact SA, Lightrock, and Quona Capital in 2022, Arya.ag has raised about $110 million to date.
The largest external shareholder, according to the media, was Lightrock (formerly Aspada Investment), with 17.89% of the company at the time of the Series C round. Lightrock Venture came in second, owning 12.84% of the business.
An online grain marketplace called Arya.ag links buyers and agri producers, or sellers. Via outside lenders, it offers farmers ancillary services like debt and warehousing.
Arya.ag reported profit for the fiscal year that ended in March 2023, in contrast to many other companies its age. The company’s profit shot up 11X to Rs 7.58 crore in the same period, even though its gross scale increased 49.48% year over year to Rs 290 crore in FY23.
The company reports that in FY24, it achieved a net revenue of Rs 360 crore and a profit of Rs 17 crore. The business has not yet submitted its audited annual report for the most recent fiscal year.
Among its competitors are DeHaat, Ninjacart, and Bijak.
