Agritech startup Agrizy raises $4 mn from Ankur Capital, others
The funds raised will be utilized to build strong business and engineering teams, develop a suite of digital services for the processed agri marketplace./ Representative image |
Agritech startup Agrizy has raised $4 million (around Rs 30 crore) from investors including Ankur Capital to grow its business.
The seed round also saw participation from Omnivore and angel investors Rajesh Yabaji (CEO, BlackBuck), Zetwerk’s Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, among others.
''The funds raised will be utilized to build strong business and engineering teams, develop a suite of digital services for the processed agri marketplace and ramp up customer traction in targeted value chains across various locations in India,'' Agrizy said in a statement.
The startup will use the funds to build out the product and accelerate business in targeted value chains. Founded in September 2021 by Vicky Dodani and Saket Chirania, Agrizy is developing a tech-first platform to bridge the processed agri supply chain.
The tech platform connects the processors and buyers of non-perishable farm products across both food and non-food categories like jute, oilseeds, cereals, pulses, and others to optimally discover and fulfill transactions.
“We aim to be the single point of contact for the agri processing units by providing them an end-to-end fulfilment platform and simplifying their procurement and sales cycle,'' Dodani said.
Chirania said there is a lot of untapped potential in the way agri processing units can leverage technology to grow and thrive. Krishnan Neelakantan, Partner at Ankur Capital, noted, “We have been keenly following the $500 billion agri commodity space, seeing the potential for large opportunities to get unlocked.''
(With inputs from PTI)
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