Agri food processing company Agrizy has raised debt funding of $5 million co-led by SBI, Yes Bank, Vivriti Capital, and other financial institutions.
Agrizy had previously raised a seed round of $4,000,000 in April 2022 from Amrit Acharya and other investors.
The proceeds will be utilised to enhance Agrizy’s technological capabilities, strengthen its processing capabilities , and expand its reach to more agrifood processing SMEs in India, and large agrifood buyers in domestic and international markets, Agrizy said in a press release.
Founded in 2020, Agrizy offers customised solutions designed to address the needs of the processed agrifood value chain. Its business to business platform enables agrifood processors to procure pre-processed and semi-processed agrifood products, providing end to end fulfilment services through quality assurance, logistics, and payment offerings.
The Bengaluru-based company says that its value added processing services provide custom-processed agro food products supply for large agrifood processors and brands, increasing capacity utilisation and profitability for SME processors. Additionally, its fintech services provide working capital for processors from formal lenders at competitive rates.
Agrizy competes with the likes of Copia, AgroFresh, and Hazel Technologies.