Medilytix Research:
Agri-tech firm Arya has raised $60 million in a mix of equity and debt round. While the equity round was led by Asia Impact SA, Lightrock India and Quona Capital, the debt component came from US International Development Finance Corporation, besides other investors.
While $44 million came in for equity, the rest $16 million were raised as debt, Anand Chandra, co-founder, Arya.ag informed.
“On the commerce and the market linkage platform, we are at a $200 million ARR and we endeavour to take it to a $1 billion mark in the next 12 months,” said Chandra adding that the company will hire 300 more employees with at least 50 dedicated to the technology segment in the coming months.
Founded in 2013 by Chattanathan Devarajan, Prasanna Rao and Chandra enables farm gate storage and provides warehousing and finance solutions to farmers among other things. The company soon plans to start offering logistics and insurance as well.
It currently manages over 3 million metric tons of agri commodities across 21 states in India and claims to be facilitating finance of over $700 million annually.