Agritech firm Arya.ag on Tuesday said it has raised $60 million (around Rs 450 crore) in equity and debt from investors to expand its business.
In a statement, Arya.ag, an integrated grain commerce platform, announced the close of its Series C round, having raised $60 million in a mix of equity and debt.
The equity round was led by Asia Impact SA, Lightrock India and Quona Capital. It also raised debt financing from the US International Development Finance Corporation (DFC), among others.
This funding round will help the company to gain market share and add more services, Arya.ag said. The company provides its services across 425 districts in 21 states.
Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to sellers. It facilitates over $600 million of finance annually.
Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments. The platform seeks to eliminate distress sales of farmers' produce by enabling farmgate storage and seamless finance options.
(With inputs from PTI)