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The Bengaluru-based agritech startup, Agrizy has raised $4 Million in series seed round funding led by Ankur Capital. The round also saw participation from Omnivore and angel investors including Rajesh Yabaji (CEO, BlackBuck), Zetwerk’s Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary among others.
“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. The startup will use the funds to build out the product and accelerate business in targeted value chains,” the statement said.
Founded in September 2021 by Vicky Dodani and Saket Chirania, Agrizy connects the processors and buyers of non-perishable farm products across both food and non-food categories like jute, oilseeds, cereals, pulses, and others to optimally discover and fulfill transactions. This will support agri processors with innovative technology solutions, for effective utilization to execute the trade through Agrizy’s logistics partners.
Speaking on the fundraise, Vicky Dodani, Co-Founder, Agrizy, said, “We aim to be the single point of contact for the agri processing units by providing them an end-to-end fulfillment platform and simplifying their procurement and sales cycle. The recent round of funding from two notable funds investing in Agri Tech reinvigorates our vision of transforming the processed agri supply chain.”
“There is a lot of untapped potential in the way agri processing units can leverage technology to grow and thrive. Agrizy offers solutions across digital vendor management, and supply and value chain automation to its Agri Processing Units. We are sustainably growing our business by 100% MOM from inception,” Saket Chirania, Co-Founder of Agrizy added.
Commenting on the investment, Krishnan Neelakantan, Partner at Ankur Capital said, “We have been keenly following the USD500 billion agri commodity space, seeing the potential for large opportunities to get unlocked. While these value chains continue to follow archaic practices, we have seen that Vicky, Saket, and Agrizy team have developed a deep understanding of the space and insights into how digitization can disrupt these large agri value chains in India. We see Agrizy building a platform that can enable better price realization, expand business footprint across locations and unlock value for SMEs by enabling formal credit. We are glad to be part of their journey.”
“Vicky and Saket are perfect examples of the new wave of agritech founders, who are building on their prior startup experience (Blackbuck, Zoomcar, Bizongo) to transform agricultural value chains in India. Omnivore is proud to back Agrizy as they work to build the country’s largest agri processing platform,” Mark Kahn, Omnivore further added.