Total amount raised
$18.8 Million
Latest funding date
8/1/2024
Location
Agrizy has successfully raised funds over three rounds, with the latest being a Series A round. The platform is backed by 13 investors, including notable names like Accion and Omnivore.
Keep reading to explore the intricacies of Agrizy's fundraising journey and the investors backing this innovative agri-processing platform.
What Is Agrizy?
Agrizy is an innovative company based in Bengaluru, Karnataka, India, specializing in agri-processing and supply chain solutions for agribusinesses. The company operates within the agriculture, agtech, productivity tools, and supply chain management industries.
With a workforce of 101-250 employees, Agrizy has made significant strides in its field. Although the exact founding year and founder names are not specified, the company's impact and growth are evident through its successful funding rounds and investor support.
How Much Funding Has Agrizy Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: April 2022
- Lead Investors: Ankur Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish market fit and scale the business while demonstrating superior metrics on margins and capital efficiency.
- Debt Financing
- Amount Raised: USD 5,000,000
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to support operational expenses and initial scaling efforts.
- Series A
- Amount Raised: USD 9,800,000
- Date: August 2024
- Lead Investors: Accion, Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new product areas and geographies, launch CDMO and value-added advisory services, and offer financial services to MSME processors and farmer-producer organizations.
Total Amount Raised: USD 18,800,000. Current Valuation: Not publicly disclosed.
Key Investors
- Accion
- Details: Accion is a global nonprofit organization dedicated to creating a financially inclusive world. They focus on developing and scaling responsible digital financial solutions for underserved populations.
- Investment Focus Areas: Financial inclusion, digital financial services, small business financing.
- Notable Investments: Not publicly disclosed.
- Omnivore
- Details: Omnivore is an impact venture capital firm that funds entrepreneurs building the future of agriculture and food systems. They support startups that prioritize sustainability and innovation in the agritech sector.
- Investment Focus Areas: Agritech, food systems, sustainability.
- Notable Investments: Not publicly disclosed.
- Ankur Capital
- Details: Ankur Capital is an early-stage venture capital fund that invests in technologies and product innovations aimed at creating large-scale impact. They were the first institutional investor in Agrizy.
- Investment Focus Areas: Agriculture, healthcare, education, financial inclusion.
- Notable Investments: Not publicly disclosed.
- Capria Ventures
- Details: Capria Ventures is a global investment firm that partners with local fund managers to invest in early-growth businesses in emerging markets. They focus on sectors that drive social and economic impact.
- Investment Focus Areas: Financial services, healthcare, education, agriculture.
- Notable Investments: Not publicly disclosed.
- Thai Wah Ventures
- Details: Thai Wah Ventures is an investment arm of Thai Wah Public Company Limited, focusing on innovative and sustainable solutions in the agribusiness sector. They aim to support startups that can transform the food and agriculture industries.
- Investment Focus Areas: Agribusiness, food innovation, sustainability.
- Notable Investments: Not publicly disclosed.
What's Next for Agrizy?
Agrizy stands at the cusp of transforming India's agri-processing landscape. With a $400 billion market growing at 9% annually, the opportunities are vast. The company aims to expand into new product areas and geographies, launch CDMO and value-added advisory services, and offer financial services to MSME processors and FPOs. These initiatives could significantly enhance the efficiency and profitability of India's 2 million food processing MSMEs.
Future fundraising seems inevitable as Agrizy scales its operations and introduces new services. The involvement of multiple investors in the recent Series A round suggests strong interest, paving the way for additional funding rounds. However, challenges such as low processing rates, compliance with global quality standards, and providing adequate financial services to underserved stakeholders remain. Overcoming these hurdles will be crucial for Agrizy's sustained growth and success.
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