Agrizy Ventures Pvt Ltd, which runs agritech platform Agrizy, on Monday said it has secured seed funding of $4 million (around Rs 30 crore) led by Ankur Capital, with participation from Omnivore and angel investors including Rajesh Yabaji (CEO, BlackBuck) and Zetwerk’s Co-founders Srinath Ramakkrushnan, among others.
The Bengaluru-based startup said that it will use the fresh money to ramp up business and engineering teams, build a suite of digital services for the processed agri marketplace and onboard more customers across value chains in several India pockets.
Founded in 2021 by Vicky Dodani and Saket Chirania, Agrizy is developing a tech-first platform to bridge the processed agri supply chain.
The platform 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.
“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," said Chirania.
Notably, Agrizy is the first investment by Ankur Capital through their India Pitch Fest program.
In its first cohort, they had over 500 applications and of these, 50 applicants were shortlisted for the final round, where they were given an opportunity to pitch their startup idea to various micro-VCs.
Several startups in the larger agri-tech segment have managed to pull in funding from strategic players and investors.
In March, agri-tech startup Otipy raised Series B funding of Rs 235 crore (approximately $32 million) led by homegrown private equity fund WestBridge Capital.
In February, VCCircle reported that silk business-to-business startup is in talks with investors to raise funding at $600-700 million valuation.
In January this year, JM Financial Private Equity’s second fund has led a Rs 100 crore investment in agri-tech platform BigHaat Agro Pvt Ltd, as a part of its Series B funding round.
