Agri-processing Startup 'Agrizy' wins $9.8 million in Series A
Agrizy, a B2B agri-processing platform, has raised $9.8 million (approximately Rs.82 crore) in its Series A round of funding co-led by Accion and Omnivore, with participation from new investors Capria Ventures, Thai Wah Ventures, while existing investor Ankur Capital has doubled down.
This brings the total funds raised by Agrizy to $17.3 million including a $5 million debt round. Its $2.5 million seed round was led by Ankur Capital with participation from Omnivore.
The fresh funds raised will be used to expand its services into new product areas and geographies, develop advisory services, and offer financial services for processing businesses and farmer-producer organizations.
Founded in the year 2020, Agrizy offers customised solutions designed to address the needs of the processed agrifood value chain. Its business-to-business platform enables agrifood processors to procure pre-processed and semi-processed agrifood products, providing end to end fulfilment services through quality assurance, logistics, and payment offerings.
The Bengaluru-based company says that its value-added processing services provide custom-processed agro food products supply for large agrifood processors and brands, increasing capacity utilization and profitability for SME processors. Additionally, its fintech services provide working capital for processors from formal lenders at competitive rates.
Agrizy competes with the likes of Copia, AgroFresh, and Hazel Technologies.
John Fischer, Chief Investment Officer at Accion says, “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities”.
"Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time,” he added.
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This brings the total funds raised by Agrizy to $17.3 million including a $5 million debt round. Its $2.5 million seed round was led by Ankur Capital with participation from Omnivore.
The fresh funds raised will be used to expand its services into new product areas and geographies, develop advisory services, and offer financial services for processing businesses and farmer-producer organizations.
Founded in the year 2020, Agrizy offers customised solutions designed to address the needs of the processed agrifood value chain. Its business-to-business platform enables agrifood processors to procure pre-processed and semi-processed agrifood products, providing end to end fulfilment services through quality assurance, logistics, and payment offerings.
The Bengaluru-based company says that its value-added processing services provide custom-processed agro food products supply for large agrifood processors and brands, increasing capacity utilization and profitability for SME processors. Additionally, its fintech services provide working capital for processors from formal lenders at competitive rates.
Agrizy competes with the likes of Copia, AgroFresh, and Hazel Technologies.
John Fischer, Chief Investment Officer at Accion says, “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities”.
"Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time,” he added.
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