Bengaluru-based agritech startup Agrizy raises $9.8 million in a Series A round

Bengaluru-based agritech startup Agrizy has raised $9.8 million in a Series A funding round co-led by Accion, a digital lending non-profit, and Omnivore, an agri-investor. 

New investors Capria Ventures and Thai Wah Ventures also participated, alongside existing investor Ankur Capital. 

The latest round brings Agrizy's all-time raise to $17.3 million.

Expanding into new product areas

Agrizy plans to use the raised capital to expand into new product areas and geographical markets. The agritech startup aims to launch a Contract Development and Manufacturing Organization (CDMO) and value-added advisory services. 

Additionally, It will provide financial services to Micro, Small, and Medium Enterprises (MSME) processors and Farmer Producer Organizations (FPOs).

What does Agrizy do?

Founded in 2021 by Vicky Dodani and Saket Chirania, Agrizy focuses on integrating technology into the agricultural sector, specifically targeting the processed agri-food supply chain.

The startup aims to enhance the efficiency and sustainability of food processing and distribution by connecting various stakeholders, including suppliers, processors, and buyers of agricultural products.

Leadership comments

"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," said co-founder and CEO Vicky Dodani.

"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," said John Fischer, Chief Investment Officer at Accion.