Agritech startup Arya raised $21 mn in Series B funding round led by fintech-focussed venture capital firm Quona Capital, LGT Lightstone Aspada and Omnivore also participated along with others.
The agritech startup provides post-harvest services across the agricultural value chain, including warehousing, warehouse receipt financing, rural storage discovery, collateral management and market linkages. Claims that it manages over 3 mn tonnes of agri commodities worth $1 bn across 1,500 warehouses and has clocked around INR 125 cr in revenue in the financial year 2020.
The latest Introduction of cash would be used to expand its NBFC loan book to around INR 300 cr by the end of financial year 2021. The company has so far disbursed around INR 250 cr in small-ticket loans, ranging anywhere between INR 5 Lakh to INR 25 Lakh.