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HomePosts Tagged "Agrizy"
Agribusiness, Company News, Finance, India, Start ups

Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets.

Agri-processing platform Agrizy announced today that it has raised USD 9.8 million (Rs 82 crores) in Series A funding. The round was co-led by Accion and Omnivore, with participation from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.

India’s $400 billion agri-processing market, though growing 9 per cent annually, faces a bottleneck: only 10 per cent of farm produce gets processed today. This pales in comparison to global leaders like China (40 per cent) and developed nations (70 per cent). India has more than 2 million food processing MSMEs, which operate significantly under capacity and struggle to find B2B customers, especially in export markets.

Agrizy is helping to solve these challenges, providing MSMEs with a fully managed B2B marketplace for agrifood supply chains and processing. The platform connects every stakeholder in the agrifood processing ecosystem to optimally discover and fulfil transactions. The startup works closely with agrifood processing MSMEs, offering them a suite of digital services to generate additional long-term revenues and improve their operating margins, while streamlining their procurement and sales cycles.

Agrizy was co-founded in 2021 by Vicky Dodani and Saket Chirania, who previously worked in senior roles with leading Indian startups including Blackbuck, Bizongo, and Zoomcar. With the new funding, Agrizy aims 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 (FPOs). 

Vicky Dodani, Co-founder and CEO at Agrizy, said, “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, while offering these underserved stakeholders working capital from formal financial institutions. The current investment will empower Agrizy to actively drive these crucial initiatives in both local and global markets.”

John Fischer, Chief Investment Officer at Accion, said: “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities. Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time.”

Mark Kahn, Managing Partner at Omnivore, stated, “We are proud of our partnership with Agrizy and their vision of upgrading the Indian agri-processing sector. The company’s foray into contract manufacturing is critical for streamlining intricate, export-oriented supply chains. By prioritizing innovation and sustainability, Agrizy is positioning India’s food processing industry to meet evolving global market needs.

Agrizy aims to transform India into a

Agrotech, Start ups

The start-up will use the funds to build out the product and accelerate business in targeted value chains

Bengaluru-based ag-tech start-up, Agrizy has raised $4 million in a seed round led by Ankur Capital. This round also saw participation from Omnivore and notable angels like Rajesh Yabaji (CEO, BlackBuck), Zetwerk’s Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary among others.

The funds raised will be utilised to build strong business and engineering teams, develop a suite of digital services for the processed agri marketplace and ramp up customer traction in targeted value chains across various locations in India. The start-up will use the funds to build out the product and accelerate business in targeted value chains. 

Founded in September 2021 by Vicky Dodani and Saket Chirania, Agrizy is developing a tech-first platform to bridge the processed agri supply chain. The tech platform connects the processors and buyers of non-perishable farm products across both food and non-food categories like jute, oilseeds, cereals, pulses, and others to optimally discover and fulfill transactions.

This will support agri processors with innovative technology solutions, for effective utilisation to execute the trade through Agrizy’s logistics partners. The founding team comes with a good mix of operations, finance, and logistics experience at high-growth start-ups like Blackbuck, Bizongo, and Zoomcar, as well as deep ties to the agri processing domain. 

Vicky Dodani, Co-Founder, Agrizy, said, “We aim to be the single point of contact for the agri processing units by providing them an end-to-end fulfillment platform and simplifying their procurement and sales cycle. The recent round of funding from two notable funds investing in Agri Tech reinvigorates our vision of transforming the processed agri supply chain.”

Saket Chirania, Co-Founder, Agrizy, added, “There is a lot of untapped potential in the way agri processing units can leverage technology to grow and thrive. Agrizy offers solutions across digital vendor management, and supply and value chain automation to its Agri Processing Units. We are sustainably growing our business by 100 per cent MOM from inception.”

The start-up will use the funds to