Arya, integrated grain commerce platform, today 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. The agritech platform also raised debt financing from the US International Development Finance Corporation (DFC) among others.
How Arya.ag works
Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments.
The platform eliminates distress sales of farmers’ produce by enabling farmgate storage and seamless finance options, offering farmers the freedom of when and whom to sell to.
With visibility into over 10,000 commodity storage points across the country, Arya assures year-round supply to SME and corporate buyers with embedded financing options, according to a press statement.
What will funds raised be used for?
Chattanathan Devarajan, Arya’s Co-Founder, said, “This funding round will help us gain market share for our core offerings and add more services to consolidate our position as India’s most trusted platform in agriculture. We believe that these partnerships, old and new, are an endorsement of Arya’s strength to drive penetration and lead transformation within the sector.”
“Through the pandemic, we have seen Arya transform agri-commerce across India,” said Matteo Pusineri, director of Asia Impact SA. “Arya will help accomplish Asia Impact's vision to integrate rural under-served farming communities across Asia to markets at scale.”
“We are excited about our continued partnership with Arya as they build the largest grain platform in the country,” said Vaidhehi Ravindran, partner at Lightrock India. “They have built a strong and profitable foundation over the last few years, and with the addition of the marketplace are in a period of accelerated growth and impact. With a team that is a great combination of innovation meets prudent risk management, we are confident that Arya will transform the grain markets as a whole.”
“At Quona, we believe long-term structural changes can be accelerated by introducing more transparency,” said Varun Malhotra, partner at Quona Capital. “We are excited to deepen our partnership with Arya.”
The founders of Arya—Chattanathan Devarajan, Prasanna Rao and Anand Chandra—have decades of experience in agri-business and agri-finance.
Asia Impact SA was advised by Shardul Amarchand Mangaldas & Co with a team led by Manav Nagaraj and KS Bhargava. Setuka Partners was the advisor on debt finance from US International Development Finance Corporation (DFC).