Bengaluru-based agritech startup Agrizy has successfully raised $9.8 million in a Series A funding round. The round was co-led by Accion, a digital lending non-profit, and Omnivore, an agri-investor. New investors Capria Ventures and Thai Wah Ventures also participated, along with existing investor Ankur Capital. This brings Agrizy’s total funding to $17.3 million.
Expansion Plans
With the new funding, Agrizy plans to expand into new product areas and geographical markets. The startup aims to launch a Contract Development and Manufacturing Organization (CDMO) and offer value-added advisory services. Additionally, Agrizy will provide financial services to Micro, Small, and Medium Enterprises (MSME) processors and Farmer Producer Organizations (FPOs).
About Agrizy
Founded in 2021 by Vicky Dodani and Saket Chirania, Agrizy focuses on integrating technology into the agricultural sector. The startup targets the processed agri-food supply chain, aiming to enhance efficiency and sustainability in food processing and distribution. Agrizy connects various stakeholders, including suppliers, processors, and buyers of agricultural products.
Leadership Comments
Agrizy’s co-founder and CEO, Vicky Dodani, expressed his vision for the company: “Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets and comply with global quality standards. We also offer these underserved stakeholders working capital from formal financial institutions.”
John Fischer, Chief Investment Officer at Accion, highlighted Agrizy’s impact: “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company addresses the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities.”
Agrizy Future Goals
Agrizy’s mission is to make India’s agricultural sector more efficient and globally competitive. By offering a platform that connects various players in the agri-food supply chain, Agrizy aims to streamline processes and improve overall productivity. The company’s focus on providing financial services to MSMEs and FPOs will help boost rural economies and support small-scale farmers and processors.
Agrizy’s recent funding round is a significant step towards expanding its reach and impact in the agricultural sector. With the support of prominent investors, Agrizy is well-positioned to enhance the efficiency and sustainability of food processing in India, benefiting small farmers and processors across the country.
