Arya plans to use the funds to speed up growth of its agri-storage network, build its book in warehouse receipt financing, and lay the foundation for a pan-India agri warehousing marketplace.
The startup provides post-harvest services across the agricultural value chain, including warehousing, warehouse receipt financing, rural storage discovery, collateral management and market linkages. In addition, it offers warehouse receipt financing via Aryadhan which provides credit to farmers, Farmer Produce Organisations and small and medium enterprise aggregators.
Arya’s clients include farmers, FPOs, financial institutions, SME agri processors, commodity traders and corporate agribusinesses. Arya is unique in its ability to provide bundled warehousing and warehouse receipt financing solutions for smallholder farmers and FPOs in rural India.
The company currently manages over 2.5 million tonnes of agri commodities in its 1,400 warehouses, with around 75% of its warehousing capacity located in primary and secondary (village and small mandi level) markets.
“The warehousing model profitably serves the agri storage and financing needs of smallholders, FPOs, and corporations in the smaller rural markets,” Prasanna Rao, co-founder and CEO of Arya, said.
Source: Economic Times
Read the similar article on Business Today