Arya raises $21 Mn in Series B round
Noida: Agritech startup Arya has raised $21 million in a mix of equity and debt in its Series B round. Quona Capital led the equity round in participation with existing investors LGT Lightstone Aspada and Omnivore. Multiple lenders also participated in providing additional debt financing to the company.
As part of the investment, Varun Malhotra, Principal at Quona Capital, will join the board of Arya.
The fresh funding will be used to expand financing to farmers through Arya’s fintech arm Aryadhan and to strengthen its post-harvest services and market linkages platform
Launched by Rao, Chattanathan Devarajan, and Anand Chandra, Arya offers storage, warehouse management, embedded finance, and market linkages to agricultural producers and buyers across India. Arya’s clients include farmers, farmer producer organizations (FPOs), financial institutions, SME Agri processors, commodity traders, and corporate agribusinesses.
The startup claims to have over 2.5 million tonnes of storage capacity across 1,500 warehouses in 20 Indian states. It efficiently connects the supply side of the agro-ecosystem with the demand side. Arya’s NBFC subsidiary, Aryadhan Financial Solutions, assists sellers of agri-commodities to avoid distress sale of produce by extending post-harvest credit. On the financing side, it has completed loan disbursements of over Rs 250 crore.
