Ag-tech firm Arya raises $21 million from Quona Capital and existing investors

Agri-tect start out-up Arya has elevated $21 million (₹154 crore) in B series equity and financial debt funding. The equity round was led by Quona Capital, a venture firm targeted on fintech in emerging markets, along with current investors LGT Lightstone Aspada and Omnivore, the firm reported in a statement.

A number of loan companies participated in giving further financial debt funding to the firm. The new funding will be applied to expand funding to farmers via Arya’s embedded fintech arm, Aryadhan, and to reinforce its electronic write-up-harvest expert services and market place linkages system, a2zgodaam.com

Arya offers electronic solutions for storage, processing, funding, and market place linkages and its consumers contain farmers, farmer producer organisations (FPOs), economical institutions, SME agri processors, commodity traders and company agri-business houses.

Arya promises that it helps farmers realise better benefit for their deliver via village amount commodity storage, built-in funding, and market place linkage expert services to build better possibilities for commodity income.

“Of the food grains truly worth $a hundred thirty billion generated by India annually, there are massive losses in primary and secondary markets thanks to deficiency of storage, forcing farmers to sell off-cycle for decreased returns,” reported Arya’s Co-Founder and CEO, Prasanna Rao. “These very same farmers are dependent on funding for their income move demands but are vastly underserved, hurting their ability to retail outlet and sell their deliver optimally. Arya’s electronic answer pairs warehousing with funding and crucial market place linkage expert services to support smallholder farmers thrive.”

“Arya is addressing a vastly underserved market place of farmers in India, fifty percent of whom earlier experienced little access to write-up-harvest finance,” reported Ganesh Rengaswamy, Co-founder and Associate at Quona Capital. “We feel Arya’s unique approach, giving a complete-support electronic system with embedded finance and differentiated efficiencies for little farm holders, will push the long run of farming in India.”

As part of the expense, Varun Malhotra, Principal at Quona Capital, will sign up for the Board of Arya. Expense bank IndigoEdge was the unique advisor on the offer.