Agritech startup Arya.ag has secured approximately Rs 242.36 crore ($29.2 million) from existing investors in its first investment round since January 2022. The company’s board approved a special resolution to issue 53,695 CCPS at a price of Rs 45,137 each, according to regulatory filings accessed from the RoC.
The startup received significant backing from Asia Impact and Quona Capital through Quona Blue Earth and Accion Quona, contributing Rs 134.46 crore to the total raised. TheKredible estimates value Arya.ag at around Rs 2,700 crore or $325 million post-allotment, with the potential for valuation adjustments if additional funds are raised.
To date, Arya.ag has raised approximately $110 million, including a $60 million Series C round led by Asia Impact SA, Lightrock, and Quona Capital in 2022. Lightrock (formerly Aspada Investment) emerged as the largest external shareholder with a 17.89% stake, followed by Lightrock Venture with 12.84%.
Arya.ag operates a grain commerce platform connecting agricultural producers with buyers and provides additional services like warehousing and loans through third-party lenders. The company posted a significant profit for the fiscal year ending March 2023, with gross revenue growing 49.48% year-on-year to Rs 290 crore and profits surging 11 times to Rs 7.58 crore.
The company announced an increase in net revenue to Rs 360 crore in FY24, with a net profit of Rs 17 crore, though it has yet to file its audited annual report for the last fiscal year. Arya.ag competes with DeHaat, Ninjacart, and Bijak in the agritech space.
