Agritech Startup Secures Fresh Funding of 243Cr

Arya AG
Preeti Bali / 7:33 am / July 5, 2024

Noida-based agritech platform has secured fresh funding of Rs 242.36 crore (approximately $29.2 million) from its existing investors. This marks the company’s first funding round since the beginning of 2022.

Details of the Investment

The company’s board approved the issuance of 53,695 Compulsorily Convertible Preference Shares (CCPS) at Rs 45,137 per share to raise the aforementioned amount. This information was revealed in a regulatory filing accessed from the Registrar of Companies (RoC).

Existing Investors Lead the Round received Rs 134.46 crore from its previous backers, Asia Impact and Quona Capital, through investment vehicles Quona Blue Earth and Accion Quona.

Valuation on the Rise

According to estimates by TheKredible, the company’s post-allotment valuation is estimated to be around Rs 2,700 crore (approximately $325 million). It’s important to note that this valuation is subject to change if the company raises additional funds in the future.

Previous Funding Success

With this recent investment,’s total funding to date reaches approximately $110 million. This includes a $60 million Series C round led by Asia Impact SA, Lightrock, and Quona Capital in 2022.

Investor Landscape

Startup information stage TheKredible reports that Lightrock (previously Aspada Speculation) was the biggest outside investor with a 17.89% stake as of the Series C round. Lightrock Adventure followed intimately with a 12.84% possession in the organization. Connecting Farmers and Buyers operates as a grain commerce platform that facilitates transactions between agricultural producers (sellers) and buyers. They also offer additional services such as warehousing and access to debt financing for farmers through third-party lenders.

Profitability in a Competitive Market

Standing apart from different new companies in its development stage, accomplished benefit in the monetary year finishing Walk 2023. The organization detailed a 49.48% year-on-year development in gross scale to Rs 290 crore in FY23. Furthermore, their benefits saw a huge ascent, duplicating by multiple times to arrive at Rs 7.58 crore in a similar period.

While claims their net income rose to Rs 360 crore in FY24 with a net benefit of Rs 17 crore, their examined yearly report for the last financial year stays forthcoming.


Operating in a Competitive Landscape

In the Indian agritech space, faces competition from established players like DeHaat, Ninjacart, and Bijak, among others. This new funding round will likely fuel’s growth strategy as they aim to solidify their position in the market.

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