Agritech startup Arya.ag announced on Wednesday that it has raised USD 29 million (Rs 242 crore) in a fundraising round from investors to grow its business.

According to a statement from the company, an integrated grain commerce platform, the funds were raised in a Pre-Series D funding round headed by Swiss investment firm Blue Earth Capital. Asia Impact and Quona Capital, both existing investors, also participated in the round.

"Arya.ag plans to utilise the Pre-Series D funds to gain market share and improve its profitability," the business announced. In 2023-24, the company had a profit of Rs 17 crore on Rs 360 crore in revenues. Profits increased by more than 36% compared to FY23.

Arya.ag is an agri-commerce platform that links suppliers and purchasers of agricultural products to facilitate and expedite commerce, increasing efficiency and minimizing waste. The platform combines warehouse discovery, farmgate-level storage, finance, and market linkages to provide a complete solution across the value chain while addressing market inefficiencies.