Agritech firm Azaylla from Cambodia has received an undisclosed sum in pre-series A funding from Insitor Partners through its Insitor Impact Asia Fund II.
Azaylla, a company founded in 2019 by Subhadeep Chowdhury and Parth Borkotoky, offers supply chain solutions for farmers in Cambodia, assisting them in handling and exporting fresh food internationally.
To increase supply capacity for supermarkets, hotels, restaurants, and caterers, the company will utilize the extra cash to grow its business network and make technology investments. To provide its business partners with better prices and availability, it also intends to introduce an online B2B platform that includes consumer insights, market data, and curation.
The business received its first round of investment from a local venture capital firm, Uberis Capital, last year.
Azaylla claims that at the moment, Cambodia must import over 70% of its fresh vegetables from nations like Vietnam and Thailand. The business wants to expand domestic output by giving local farmers access to loans while also assisting them in raising crop quality and yields.
This is Insitor Partners’ seventh investment in Cambodia as of this round. The VC firm’s headquarters are currently in Singapore; however, it was initially established in Phnom Penh in 2009.
Early-stage businesses in Asia that serve low-income clients are the focus of Insitor Partners. The company successfully raised US $42 million earlier this year, securing the Impact Asia Fund II’s first closure. For the fund’s second closure before the end of the year, it hopes to raise the additional US $70 million.
