The B2B agri-processing platform Agrizy has raised $9.8 million (Rs 82 crore) in its Series A funding round, which is being led by Accion and Omnivore. New investors Capria Ventures and Thai Wah Ventures have also participated, and Ankur Capital, an existing investor, has increased its investment.
With the $5 million debt round, Agrizy has now raised a total of $17.3 million. Ankur Capital spearheaded the $2.5 million seed round, with Omnivore joining in.
The money raised will be utilized to grow the company’s offerings into new markets and product categories, create advisory services, and provide financing to farmer-producer associations and processing companies.
Founded in 2020, Agrizy provides tailored solutions to meet the demands of the value chain for processed agrifood. Through its business-to-business platform, which offers end-to-end fulfillment services through quality assurance, logistics, and payment offerings, agrifood processors can purchase pre-processed and semi-processed agrifood products.
According to the Bengaluru-based company, its value-added processing services boost capacity utilisation and profitability for SME processors by supplying large agrifood processors and brands with custom-processed agro food products. Furthermore, processors can obtain working capital from formal lenders at competitive rates through its fintech services.
AgroFresh, Copia, and Hazel Technologies are some of the competitors of Agrizy.
