Quona Capital leads $21m funding in Arya and 16 more India deal updates

Noida-based agritech startup Arya has raised $21 million in a Series B equity and debt funding round, per an announcement.

The equity round was led by Quona Capital, a venture firm focused on fintech in emerging markets, alongside existing investors LGT Lightstone Aspada and Omnivore. Multiple lenders participated in providing additional debt financing to the company, the startup said in a statement.

As part of the investment, Varun Malhotra, Principal at Quona Capital, will join the board of Arya.

The new funding will be used to expand financing to farmers through Arya’s embedded fintech arm, Aryadhan, and to strengthen its digital post-harvest services and market linkages platform, a2zgodaam.com, the statement added.

Arya provides digital solutions for storage, processing, financing, and market linkages.
The startup’s clients include farmers, farmer producer organisations, financial institutions, SME agri processors, commodity traders and corporate agribusinesses.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from December 9-16, 2020.

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