Arya, India’s largest integrated grain commerce platform, has announced the close of its Series C round, having raised US$ 60 million (approximately Rs 450 crore) 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).
Arya connects sellers and buyers of agriproducts, 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. With visibility into over 10,000 commodity storage points across the country, the company assures year-round supply to SME and corporate buyers with embedded financing options.
Arya to support in the sustainable growth of rural India
Chattanathan Devarajan, company’s co-founder, said, “We have visibility on grains worth over US$ 2 billion on the Arya platform, and this number is growing rapidly as we gather data from warehouses around the country. 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, endorse Arya’s strength to drive penetration and lead transformation within the sector.”
“Through the pandemic, we have seen Arya transforming AgriCommerce 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 confident that Arya, under the leadership of Prasanna Rao, Anand Chandra, and Chattanathan Devarajan, will greatly contribute to a unique ecosystem supporting the sustainable growth story of rural India.”
“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 and prudent risk management, we are confident that the company 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. “Arya’s unparalleled reach across rural India, coupled with its tech-driven integrated service model, has made it one of the fastest-growing AgriCommerce platforms in India. The company is successfully bridging the trust gap in post-harvest Agri transactions through complete transparency and assurance on quality, quantity, and payments. We are excited to deepen our partnership with Arya.”