Agrizy, an agritech firm, raised $4 million (about Rs. 30 crore) in a seed round sponsored by Ankur Capital.
Omnivore and angel investors Rajesh Yabaji (CEO, BlackBuck), Zetwerk Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, among others, participated in the round.
The cash will be used by the Bengaluru-based startup to expand its business, hire engineers, develop a suite of digital services for the processed agro trade, and increase client growth.
“The funds raised will be utilized 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,” Agrizy said in a statement.
The funds will be used to expand the product and speed up business in specific value chains.
Vicky Dodani and Saket Chirania founded Agrizy in September 2021 to provide a tech-first platform to connect the processed agri supply chain.
The technology platform connects processors and buyers of non-perishable farm products such as jute, oilseeds, cereals, pulses, and others in both food and non-food categories to find and fulfil transactions more efficiently.
“We aim to be the single point of contact for the agri processing units by providing them an end-to-end fulfilment platform and simplifying their procurement and sales cycle,” Dodani said.
According to Chirania, there is a lot of untapped potential in how agricultural processing companies may use technology to grow and thrive.
Krishnan Neelakantan, Partner at Ankur Capital, noted,“We have been keenly following the $500 billion agri commodity space, seeing the potential for large opportunities to get unlocked.”
