Total amount raised
₹700 Millions
Latest funding date
05/01/2023
Location
Agraga has successfully raised INR 70 Cr in a Series A funding round, with backing from IvyCap Ventures and Alteria Capital. The company offers a comprehensive digital logistics platform that connects asset holders to facilitate cross-border logistics.
Keep reading to explore the intricacies of Agraga's fundraising journey and the investors backing this innovative platform.
What Is Agraga?
Agraga, founded in 2021, operates a digital logistics platform that simplifies cross-border logistics by connecting asset holders. Headquartered in Alwarpet, Tamil Nadu, India, the company offers a range of services including trucking, rail freight, shipping line, warehousing, customs, insurance, and finance.
Led by founders Anoop Raghavan and Venkatesh N., Agraga employs between 101 and 250 people. The company, also known as Virya Logistics Technologies Private Limited, emphasizes transparency, ease of use, and real-time tracking to provide seamless logistics solutions.
How Much Funding Has Agraga Raised?
- Series A
- Amount Raised: $8.51 million
- Date: May 16, 2023
- Lead Investors: IvyCap Ventures, Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used to expand Agraga's operations from three cities to over 15 cities by March 2024, enhance their technology stack, and improve integrations with asset partners such as ocean/air carriers, warehouses, transporters, and customs departments.
Total Amount Raised: $8.51 million. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is a sector-agnostic venture capital firm founded in 2011. It manages assets of $530 million and has a portfolio of more than 30 companies.
- Investment Focus Areas: ConsumerTech, HealthTech, Fintech, EdTech, SaaS, Enterprise Tech, DeepTech
- Notable Investments: Purplle, Bewakoof, Biryani By Kilo
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides debt financing to high-growth startups. It participated in Agraga's Series A funding round.
- Investment Focus Areas: Technology, Healthcare, Consumer Services
- Notable Investments: Dunzo, Lendingkart, ZestMoney
What's Next for Agraga?
Agraga's future looks promising as it plans to expand its operations from three cities to over 15 cities by March 2024. This expansion will allow the company to tap into the growing demand for comprehensive logistics solutions in India and beyond. The enhancement of their technology stack will enable Agraga to offer end-to-end logistics solutions globally, improving integrations with asset partners such as ocean and air carriers, warehouses, transporters, and customs departments.
With the recent Series A funding of INR 70 Cr, Agraga is well-positioned to attract further investment rounds to support its ambitious growth plans. The company aims to penetrate deeper into the emerging markets of the Indian Subcontinent and Southeast Asia, leveraging the increasing reliance on technology to provide transparent, streamlined, and cost-effective supply chain solutions.
However, Agraga may face challenges such as managing the complexities of integrating with various asset partners and navigating regulatory and compliance requirements in different regions. Additionally, the company will need to compete with established logistics providers while maintaining transparency and efficiency. Despite these challenges, Agraga's strategic vision and robust technology platform position it well for future success in the logistics industry.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Agraga and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
