India – Indian ag-tech startup, Agrizy has elevated $4 Million in a seed spherical led by Ankur Money. The funds elevated will be utilized to construct strong small business and engineering teams, build a suite of digital expert services for the processed agricultural marketplace and ramp up purchaser traction in targeted worth chains across different places in India. The startup will use the cash to develop out the product or service and speed up organization in focused benefit chains.
This round also observed participation from Omnivore and notable angel investors, like Rajesh Yabaji (CEO, BlackBuck), Zetwerk’s Co-founders Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary between other folks.
Agrizy, started in September 2021 by Vicky Dodani and Saket Chirania, is acquiring a tech-1st platform to bridge the processed agri supply chain. The tech system connects the processors and purchasers of non-perishable farm items across both equally food items and non-foods types like jute, oilseeds, cereals, pulses, and others to optimally find and satisfy transactions. This will aid agri processors with revolutionary technologies solutions, for productive utilization to execute the trade by means of Agrizy’s logistics companions. The founding staff will come with a superior blend of functions, finance, and logistics encounter at higher-advancement startups like Blackbuck, Bizongo, and Zoomcar, as perfectly as deep ties to agri processing area.
Agrizy is the 1st financial investment by Ankur Cash by way of their India Pitch Fest method. The 1st cohort had more than 500 programs and of these, 50 applicants were being shortlisted for the closing spherical, wherever they were specified an possibility to pitch their startup idea to numerous micro-VCs. The IPF (India Pitch Fest) platform continues to aid the entrepreneurs from the various startup ecosystem and collaborate with the community to mentor startups with the partner networks.
Ankur Funds and Omnivore are notable investors in agri tech. Their financial investment in Agrizy indicates the large scope and likely that can be tapped into this space.
The benefit of foodgrains production in India is projected to be approximately half a trillion dollars by 2025. But the framework of the marketplace and the intermediate offer chain continues to be mainly unorganized, with 2.5 million – primarily compact – units utilizing 7 million men and women throughout India. Logistics for agri trade continues to be disaggregated, with significant dependency on middlemen for very last-minute achievement. The option in arranging offer chains for procurement and processing, as stakeholders leverage digital technologies, new-age logistics and sensible funding is substantial. Agrizy is concentrated on digitizing these worth chains, by creating a platform that will streamline and enhance transactions concerning aggregators, FPOs, farmers, and processors, together with the facilitation of formal credit history for these little corporations. This should unlock worth for all key stakeholders in this ecosystem.
Vicky Dodani, Co-Founder, Agrizy, explained, “We intention to be the one place of call for the agri processing models by giving them an stop-to-stop achievement system and simplifying their procurement and profits cycle. The new round of funding from two noteworthy cash investing in Agri Tech reinvigorates our eyesight of transforming the processed agri source chain.”
Saket Chirania, Co-Founder, Agrizy, additional, “There is a large amount of untapped opportunity in the way agri processing models can leverage know-how to expand and prosper. Agrizy features alternatives throughout digital vendor administration, and provide and worth chain automation to its Agri Processing Units. We are sustainably escalating our organization by 100% Mom from inception.”
Krishnan Neelakantan, Companion at Ankur Funds, also shared, “We have been keenly pursuing the $500 billion agri commodity area, observing the likely for big opportunities to get unlocked. When these price chains keep on to comply with archaic techniques, we have viewed that Vicky, Saket, and Agrizy team have designed a deep knowing of the place and insights into how digitization can disrupt these large agri value chains in India. We see Agrizy building a platform that can empower greater value realization, grow small business footprint throughout areas and unlock worth for SMEs by enabling official credit rating. We are happy to be part of their journey.”
“Vicky and Saket are perfect illustrations of the new wave of agritech founders, who are constructing on their prior startup knowledge (Blackbuck, Zoomcar, Bizongo) to remodel agricultural price chains in India. Omnivore is proud to back Agrizy as they do the job to develop the country’s greatest agri processing system,” explained Mark Kahn, taking care of husband or wife at Omnivore.
Ankur Capital is an early-phase enterprise cash fund centered on transformative systems for the Up coming Billion Customers. Recognized in 2014, its financial investment thesis underscores the rising possibilities made by the escalating aspirations and bigger digital obtain of this audience. The pursuing portfolio companies correctly illustrate Ankur Capital’s extremely differentiated thesis: CropIn (SaaS options for farmers, present in 53 international locations) String Bio (substitute protein technology from methane) Niramai (AI-driven thermal imaging for breast cancer analysis) and Captain Fresh (aggregators of refreshing seafood throughout select states). Ankur Funds is a pioneer in India’s agtech investments, having incubated ThinkAg, the country’s very first consider tank in the agritech house. Its founders have continually counted amongst India’s best AI influencers. With the next fund, Ankur Money strengthens and deepens its determination to and financial investment expertise in agtech and wellbeing tech, and expands its achieve by means of options across fintech, edtech, localization, and insurtech.
Agrizy is focused on digitizing processed agri commodity price chains, by creating a technology system that streamlines and optimizes transactions and motion of merchandise concerning aggregators, FPOs, farmers, and processors, like by way of the facilitation of credit history for these modest businesses.