News Post

Agritech startup Agrizy raises $9.8 million in funding led by Accion, Omnivore

Economic Times · 1m

Agrizy, a B2B agri-processing platform, has raised $9.8 million (Rs 82 crore) in its Series A round of funding co-led by Accion and Omnivore, with participation from new investors Capria Ventures, Thai Wah Ventures, while existing investor Ankur Capital has doubled down. This brings the total funds raised by Agrizy to $17.3 million including a $5 million debt round. Its $2.5 million seed round was led by Ankur Capital with participation from Omnivore. The proceeds will be used to expand its services into new product areas and geographies, develop advisory services, and offer financial services for processing businesses and farmer-producer organizations. Founded in 2020, Agrizy offers customised solutions designed to address the needs of the processed agrifood value chain. Its business to business platform enables agrifood processors to procure pre-processed and semi-processed agrifood products, providing end to end fulfilment services through quality assurance, logistics, and payment offerings. The Bengaluru-based company says that its value added processing services provide custom-processed agro food products supply for large agrifood processors and brands, increasing capacity utilisation and profitability for SME processors. Additionally, its fintech services provide working capital for processors from formal lenders at competitive rates. Agrizy competes with the likes of Copia, AgroFresh, and Hazel Technologies.