Agrizy, an agricultural food processing company, has raised $5 million in debt financing from SBI, Yes Bank, Vivriti Capital, and other financial institutions.
Agrizy had previously raised a $4,000,000 seed round from Amrit Acharya and other investors in April 2022.
According to a press release from Agrizy, the money will be used to strengthen Agrizy’s processing capabilities, expand its reach to more agrifood processing SMEs in India, and buy large quantities of agrifood on both domestic and foreign markets.
Agrizy, which was established in 2020, provides customized solutions that are intended to meet the needs of the processed agrifood value chain. Agrifood processors can purchase pre- and semi-processed agrifood products through its business-to-business platform, which offers end-to-end fulfillment services through quality assurance, logistics, and payment options.
The Bengaluru-based business claims that its value-added processing services supply large agrifood processors and brands with custom-processed agrofood products while increasing capacity utilization and profitability for SME processors. Additionally, its FinTech services offer formal lenders’ working capital to processors at affordable rates.
Copia, AgroFresh, and Hazel Technologies are some competitors of Agrizy.
