UditArya has now secured $6 million in the funding round of Series B led by the Omnivore and existing investor LGT Lightstone Aspada. The latter was a part of Arya’s Series A round back in the month of December 2016.
The startup, as of now, has plans to use the funds to accelerate the growth of its Agri storage network, build its book in the warehouse receipt financing, and create foundations of a PAN India Agri warehousing marketplace. The company, as of now, has plans to launch its Series B fundraising round by the mid-2020.
Prasanna Rao, Co-Founder, and CEO of Arya said: “Arya’s warehousing model profitably serves the Agri storage and financing needs of smallholders, FPOs, and corporations in smaller rural markets. We are delighted to have Omnivore join our investor group alongside LGT Lightstone Aspada.”
“With their experience supporting technology-driven innovation in agriculture, Omnivore’s coming on board will strengthen our next generation work to further improve efficiencies in the post-harvest ecosystem.”
Jinesh Shah, the Managing Partner of Omnivore, said : “The Arya team is transforming agri storage and financing across rural India, making small-scale warehousing viable at the village level, which farmers desperately require. Omnivore is thrilled to partner with Arya and Aspada to make this revolution a reality for all.”