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Agrizy, an agrifood processing company leveraging technology to empower SME (small and medium enterprise) processors in the agriculture sector, has secured a debt funding of $5 million from SBI, Yes Bank, Vivriti Capital, and other financial institutions.
A media statement by Agrizy said the funding will 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.
It said Agrizy offers customised solutions designed to address the needs of the processed agrifood value chain. Its digital B2B 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.
Significant for supply chain
Agrizy’s value-added processing services provide custom-processed agrifood products supply for large agrifood processors and brands, increasing capacity utilisation and profitability for SME processors. It said Agrizy’s fintech services provide working capital for processors from formal lenders at competitive rates.
The statement said the recent funding is a significant step towards Agrizy’s mission of creating a seamless supply chain for agrifood processors.
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