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

Agri-tect start-up Arya has raised $21 million (₹154 crore) in B sequence equity and credit card debt funding. The equity spherical was led by Quona Money, a venture business centered on fintech in emerging marketplaces, together with current traders LGT Lightstone Aspada and Omnivore, the enterprise mentioned in a statement.

Various loan companies participated in offering further credit card debt financing to the enterprise. The new funding will be employed to broaden financing to farmers by way of Arya’s embedded fintech arm, Aryadhan, and to reinforce its digital put up-harvest products and services and marketplace linkages system, a2zgodaam.com

Arya offers digital alternatives for storage, processing, financing, and marketplace linkages and its clientele contain farmers, farmer producer organisations (FPOs), monetary establishments, SME agri processors, commodity traders and corporate agri-business enterprise residences.

Arya statements that it helps farmers realise superior worth for their produce by way of village degree commodity storage, built-in financing, and marketplace linkage products and services to generate superior alternatives for commodity income.

“Of the meals grains worth $a hundred thirty billion generated by India per year, there are enormous losses in primary and secondary marketplaces due to deficiency of storage, forcing farmers to offer off-cycle for reduce returns,” mentioned Arya’s Co-Founder and CEO, Prasanna Rao. “These identical farmers are dependent on financing for their cash circulation needs but are vastly underserved, hurting their ability to retail store and offer their produce optimally. Arya’s digital resolution pairs warehousing with financing and vital marketplace linkage products and services to aid smallholder farmers thrive.”

“Arya is addressing a vastly underserved marketplace of farmers in India, half of whom previously had very little accessibility to put up-harvest finance,” mentioned Ganesh Rengaswamy, Co-founder and Spouse at Quona Money. “We feel Arya’s unique tactic, offering a total-service digital system with embedded finance and differentiated efficiencies for modest farm holders, will travel the long term of farming in India.”

As element of the investment, Varun Malhotra, Principal at Quona Money, will sign up for the Board of Arya. Financial commitment bank IndigoEdge was the exceptional advisor on the deal.