India-based agritech startup Arya recently announced that it has raised a Series C round of $46 million and an additional debt of $14 million. The funding round was led by Tiger Global Management, with participation from existing investor, Sequoia Capital India. This marks Sequoia Capital India’s fourth investment in Arya.
With this infusion of capital, the startup plans to expand its presence in India and overseas.
Overview of India-based agritech startup Arya
Arya is an India-based agritech startup that provides digital solutions to the agriculture sector. The company aims to empower farmers across India with smart agricultural technologies to increase their crop yields and profitability. It helps farmers increase crop productivity, optimise input cost, and protect them against price fluctuations by using a range of products such as artificial intelligence (AI) powered weather-driven precision farming solutions and farm management solutions for crop profiling, acreage monitoring, soil health monitoring, disease identification, crop nutrition optimization and more.
Arya was founded in 2018 in Mumbai by entrepreneurs Rohin Verma and Abhishek Motiramani. In January 2020 it raised its Series C round of investment led by Tiger Global Management LLC. This latest round helped accelerate Arya’s growth trajectory and expand its operations into more geographies across India. It also plans to hire more engineering and product development talent and open offices in other major cities such as Bengaluru and New Delhi.
Series C Round
India-based agritech startup Arya has just closed a $46 million Series C round of funding, with additional debt of $14 million. This funding round was led by Tiger Global Management, one of the leading venture capital firms in the world.
The funding round is meant to help the company expand and grow, to gain a larger foothold in the global market.
Investors involved in the Series C round
The Arya’s Series C round was led by Tiger Global Management and included existing investors Coatue and IVP. Other participants in the round included Avengers, Greyhound Capital and new investors Initialized Capital, Fidelity Management & Research Company, Casa Verde, Abstract Ventures and Sorenson Ventures.
The round also featured notable individual investors such as YouTube co-founder Steve Chen, Twitch co-founder Justin Kan, Robinhood CEO Vlad Tenev and Instagram COO Vishal Shah. This brings Arya’s total funding to over $200 million since its launch in 2016.
Amount raised in the Series C round
Arya raised $30 million in its Series C round, led by Tiger Global Management. The round also saw participation from existing investors – Matrix Partners India, Fountainhead Capital, Accel and Epic Ventures. This brings Arya’s total fundraising to up to $84.1 million in three rounds of funding since its launch in 2017.
The new funds are intended to focus on scaling data-driven AP/AR automation product offerings for mid-market and enterprise customers in India, the US and other markets worldwide. The company is also looking to invest further in cannabis clearance technology for the Indian IT industry. In addition, Arya plans to strengthen its presence and innovation efforts in Silicon Valley through partnerships with the leading edge technology companies there.
This fundraise could not have been achieved without the valuable guidance from Kalaari Capital, YourNest Angel Fund, RPG Ventures and other numerous early Canadian investors who have faith and confidence in Arya’s model and services in this innovative field of technology world wide.
Strategic plans for the funds
A Series C round is a specialised financing venture capitalists and start-ups use to raise capital for further expansion. This type of funding allows the company to conduct activities such as launching new products, investing in strategic partnerships and acquisitions, marketing campaigns, expanding into new markets, and hiring additional personnel. The goal is to build financial strength to improve competitive advantage over time and increase ownership across target markets.
With the help of Tyson Global Management’s strategic plans, Arya can use the funds from its Series C round to hone its commercial capabilities with more market insight. Additionally, by investing in its relevant partners with market knowledge and data-driven analytics software systems – through strategies such as integrated machine learning – Arya can continue growing fast.
As part of the Series C round’s strategic plans, it will focus on developing technologies that can improve customer experiences; establishing relationships between startups and existing companies; building an environment that shows strong results; making investments which deliver fast returns; helping startups realise their full potential; transitioning from pilot projects into viable businesses; expanding product portfolios across cultures and industries; leveraging artificial intelligence for better decision-making capabilities; scaling global operations without losing autonomy or stability over time; and working side by side with qualified professionals who understand how powerful technological change can be when leveraged correctly.
India-based agritech startup Arya raises a $46M Series C and $14M as debt
India-based agritech startup, Arya, recently raised a $46M Series C and an additional $14M in debt round. This was led and driven by Tiger Global Management, a New York-based venture capital firm, which had previously invested in Arya’s Series A and B fundraising rounds.
The newly raised funds will benefit Arya to expand its operations as an agritech startup.
Amount raised in the debt round
Arya, a leading provider of enterprise-grade neural network solutions, recently raised $50 million in a Series C round led by Tiger Global Management. This debt round was structured as a combination of subordinated notes and other securities to further solidify the company’s financial position. The proceeds from this debt raise will be used to fuel Arya’s continued development and growth, as well as strengthen its overall capital structure.
The funds help provide additional liquidity, allowing the company to execute on more opportunities faster. This will help Arya continue to build and monetize new products, services and offerings that leverage its proprietary artificial intelligence (AI) technology stack.
This investment follows on the heels of another successful capital raise for Arya, who closed over $20 million in venture capital financing earlier this year from organisations such as Sequoia Capital India, Lightspeed Venture Partners and Nexus Ventures Partners. With these two rounds combined, Arya has now raised close to $80 million across three funding events, setting them up with a strong foundation for long-term success and growth.
Use of the funds
Arya’s debt round proceeds will be used to further invest in its core products, expand globally, and develop newer technologies. These funds are also intended to help the company maintain momentum as it begins seeing more customers using its products. The recent debt round follows a series of fundraising activities that have secured additional capital for the company including an undisclosed seed round in 2017, a $12M Series A led by NEA in May 2018, and a $13M Series B led by Vertex Ventures earlier this year.
The additional funds will be used to assist Arya with operations such as R&D, marketing, and customer success and likely on expansion too, with new offices and customer support operations worldwide. Additionally, Arya will leverage the freshly funded resources for organic growth through more content creation for its product clients, including startups, e-commerce businesses and other digital companies. This debt round puts Arya in a great position from which it can confidently forge ahead towards even greater heights upon commercialising new technologies.
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