Agritech startup Arya.ag raises $29 million from existing investors: Report

Noida-based agritech startup Arya.ag has raised Rs 242.36 crore (approximately $29.2 million) in its latest funding round, which was led by existing investors, including Asia Impact and Quona Capital, through Quona Blue Earth and Accion Quona.

At what valuation?

The board of Arya.ag has passed a special resolution to issue 53,695 CCPS at an issue price of Rs 45,137 each to raise the aforementioned sum ($29.2 million), Entrackr reported, citing the company's regulatory filing accessed from the RoC.

Post-allotment, Arya.ag is valued at approximately Rs 2,700 crore, or $325 million. So far, The startup has raised around $110 million from investors.

What does Arya.ag do?

Founded in 1982 by Prasanna Rao, Arya.ag operates as a grain commerce platform that connects agricultural producers (sellers) with buyers. The startup also provides ancillary services such as warehousing and debt to farmers through third-party lenders.

Unlike other startups, Arya.ag is profitable, with its gross scale growing 49.48% year-on-year to Rs 290 crore in FY23.

The startup's profit increased elevenfold to Rs 7.58 crore during the same period. In FY24, It reported a net revenue of Rs 360 crore with a net profit of Rs 17 crore.