August 6, 2024: Agrizy has secured $9.8 million in Series A funding to fuel its expansion into new product areas and markets. The company plans to launch a contract development and manufacturing organization (CDMO) and offer value-added advisory services. Additionally, the agri-processing platform aims to provide financial services to MSME processors and farmer-producer organizations, according to a statement released by the company.
The B2B agri-processing platform has unified fragmented Agri Suppliers and Agri Processing Units (APUs) globally. The platform focuses on efficient supplier and APU discovery, alongside seamless end-to-end fulfillment, promising to revolutionize the agricultural sector’s supply chain dynamics.
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,” the statement added. Founded in 2021, Agrizy is an agritech company started by Vicky Dodani and Saket Chirania.
Agrizy to target processed agri-food supply chain
The Bengaluru-based B2B agri-processing platform focuses on integrating technology into the agricultural sector, specifically targeting the processed agri-food supply chain. It aims to enhance the efficiency and sustainability of food processing and distribution by connecting various stakeholders, including suppliers, processors, and buyers of agricultural products.
In May 2023 the agri-procession platform had raised $5 million debt funding from Vivriti Capital, YES bank, SBI, and others, a year after raising $4 million in a funding round led by Ankur Capital.
The latest round of funding was co-led by digital lending non-profit Accion and agri-investor Omnivore. The round also saw investment from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.
