Agraga, a unified digital logistics platform that integrates asset holders to simplify cross-border logistics, has raised ₹70 crore in its series A round led by IvyCap Ventures. The round also saw participation from Alteria.
The platform will use the funds to expand operations across the country from its current presence in 3 cities to over 15 cities by March 2024. Moreover, it also intends to augment its technology stack to provide end-to-end solutions globally and improve its integrations with asset partners like ocean/air carriers, warehouses, transporters, and customs departments.
“Their platform leverages technology to provide a transparent, streamlined, and cost-effective approach to the supply chain ecosystem,” said Vikram Gupta, Founder, and Managing Partner, IvyCap Ventures. Tej Kapoor, Managing Partner of IvyCap Ventures, will be joining the board of Agraga on behalf of IvyCap Ventures.
In the next five years, Agraga aims to become a prominent player in the emerging markets of the ISC and SEA regions in the cross-border and contract logistics domain.
“Achieving the Indian government’s target to increase exports to $2 trillion by 2030 reinforces this point; technology will be a critical enabler, and our technology stack is equipped to support this endeavour,” said Venkatesh Narayanaswamy, Co-founder and CEO, Agraga. He added, “As we continue to expand our national and global presence and maintain our low-touch model, Agraga has the ability to provide scalable solutions to thousands of MSMEs.”