ENA Sectors 2024-10-29 17:55:14 <p><span style="font-size:14px"><strong>New Delhi, Oct 29 (KNN)</strong> Arya.ag, a leading Indian grain commerce platform, has secured a USD 19.8 million commitment from the United States International Development Finance Corporation (DFC) to guarantee a debt facility for its agri-commerce subsidiary Aryatech.</span></p> <p><span style="font-size:14px">The funding, announced Monday, follows the company's USD 29 million equity round raised in the previous quarter.</span></p> <p><span style="font-size:14px">The agricultural technology company operates a digital marketplace that enables farmers and Farmer Producer Organisations (FPOs) to store and sell their post-harvest produce. </span></p> <p><span style="font-size:14px">Currently, Arya.ag maintains a presence across 60 per cent of Indian districts, managing over 11,000 agri-warehouses and facilitating the annual aggregation and storage of grain valued at USD 3 billion.</span></p> <p><span style="font-size:14px"> DFC is pleased to support AryaTech in expanding its growing agri-tech platform connecting small farmers and farmer producer organisations to buyers in underserved regions of India, said James Polan, DFC's Vice President of Health &amp; Agribusiness. </span></p> <p><span style="font-size:14px"> This transaction aligns with our goal of supporting economic growth and prosperity in communities across India, he added.</span></p> <p><span style="font-size:14px">The platform has demonstrated strong financial performance, reporting a profit before tax of Rs 22 crore in FY24, with a 77 per cent growth over the previous year. </span></p> <p><span style="font-size:14px">The company currently facilitates the disbursement of over USD 1.5 billion in loans to small-holder farmers, their organisations, and other stakeholders.</span></p> <p><span style="font-size:14px">Prasanna Rao, Co-Founder and CEO of Arya.ag, emphasised that the new funding will enhance the company's ability to connect farmers and FPOs with buyers beyond their existing networks, fostering a more efficient and inclusive agricultural marketplace.</span></p> <p><span style="font-size:14px">The investment comes at a time when India's agritech market is poised for significant growth. According to the India Brand Equity Foundation, the sector is projected to expand from USD 4 billion in 2022 to USD 34 billion by 2027, with the food crop segment alone expected to grow from USD 3 billion to USD 25 billion during the same period.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39752 https://knnindia.co.in/news/newsdetails/sectors/grain-commerce-platform-aryaag-gets-usd-19-mn-from-us-dfc 2024-10-29 17:55:14 knnindia.co.in