Agri post-harvest services platform Arya on Wednesday said it had raised $6 million (about ₹43 crore) in pre-Series B funding from venture capital firm Omnivore and existing investor LGT Lightstone Aspada.
The company plans to use the funding to accelerate the growth of their agri storage network, build their book in warehouse receipt financing, and lay the foundations of a pan-India agri warehousing marketplace, the company said in a statement.
Arya plans to launch its Series B fundraising round by mid-2020.
“Omnivore’s coming on board will strengthen our next generation work to further improve efficiencies in the post-harvest ecosystem,” Arya CEO and Co-founder Prasanna Rao said.
LGT Lightstone Aspada had earlier invested in Arya’s Series A round in December 2016.
Based out of Delhi, Arya currently manages over 2.5 million tonnes of agri commodities in its 1,400 warehouses. Also, around 75 per cent of its warehousing capacity is located in primary and secondary markets.
Arya is also launching a rural storage discovery platform aiming to build a pan-India agri warehousing marketplace. Until 2013, Arya was part of the JM Baxi Group.