Agrizy Raises $9.8 Million to Revolutionize Agri-Processing and Expand Services

Agritech startup Agrizy has successfully raised $9.8 million (approximately Rs 82 crore) in a funding round co-led by Accion and Omnivore. The round also saw participation from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital. The company, however, did not disclose its valuation in the latest round.

Expanding Horizons: New Products, Markets, and Services

The fresh funds will be utilized to expand Agrizy's footprint into new product areas and markets. The startup plans to launch a contract development and manufacturing organization (CDMO) and value-added advisory services. Additionally, Agrizy aims to provide financial services to MSME processors and farmer-producer organizations (FPOs). This marks a significant step forward from the $4 million it raised in April 2022 in a funding round led by Ankur Capital.

A Vision for Transformation

Founded in 2021 by Vicky Dodani and Saket Chirania, Agrizy is a Bengaluru-based platform that connects agricultural suppliers, processors, and buyers of farm products across both food and non-food categories. The platform optimizes the discovery and fulfillment of transactions, aiming to transform India into a global food processing hub.

“Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets and comply with global quality standards, while offering these underserved stakeholders working capital from formal financial institutions,” said co-founder and chief executive Vicky Dodani.

Supporting Agri-Processing MSMEs

Agrizy collaborates with agrifood processing MSMEs, offering a range of digital services to boost long-term revenue and enhance operating margins. The startup focuses on streamlining procurement and sales cycles, serving over 100 institutional clients in India and overseas, spanning Europe, North America, and Asia.

John Fischer, chief investment officer at Accion, commented, “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.”

Mark Kahn, managing partner at Omnivore, highlighted the strategic importance of Agrizy's new initiatives. “The company's foray into contract manufacturing is critical for streamlining intricate, export-oriented supply chains.”

A Promising Future for Agrizy

Agrizy's latest funding round and expansion plans underscore the startup’s commitment to driving innovation and efficiency in the agri-processing sector. By providing comprehensive services and financial support, Agrizy is well-positioned to empower MSMEs and FPOs, fostering a more robust and sustainable agricultural ecosystem in India and beyond.

Agrizy is a Bengaluru-based agritech platform founded in 2021, dedicated to connecting agricultural suppliers, processors, and buyers to streamline and optimize transactions across food and non-food categories. With a mission to transform India into a global food processing hub, Agrizy provides digital services and financial support to MSMEs and FPOs, driving growth and innovation in the agri-processing sector.