Arya.ag, an Indian agritech startup focused on farm-adjacent storage and secured lending, has attracted fresh investor backing while remaining profitable despite a prolonged downturn in global agricultural commodity prices. The Noida-based company has closed an all-equity $81 million Series D round led by GEF Capital Partners, with over 70% of the funding coming in as primary capital. The raise underscores investor confidence in Arya.ag’s asset-backed, risk-controlled model at a time when volatility continues to pressure the broader agriculture sector.
Global crop prices have been under strain amid extreme weather events, rising input costs, trade disruptions, and shifting biofuel policies, as flagged by the World Bank. These dynamics have increased the risk of inventory losses and price shocks for agri-focused businesses. Arya.ag says it has largely insulated itself by avoiding direct exposure to commodity price bets and instead focusing on secured lending and storage-linked services that can absorb downward price movements.
Founded in 2013 by former ICICI Bank executives Prasanna Rao, Anand Chandra, and Chattanathan Devarajan, Arya.ag was built around giving farmers flexibility over when and how they sell their produce. The company provides storage facilities close to farms, enables farmers to borrow against stored grain to meet short-term cash needs, and connects them with a broader marketplace of buyers, including agri-corporates, processors, and millers. This helps farmers avoid distress sales immediately after harvest, when prices are typically lowest.
Operating at scale sets Arya.ag apart. The company aggregates and stores roughly $3 billion worth of grain annually—about 3% of India’s total output—and facilitates around $1.5 billion in loans each year. Despite falling crop prices, it has kept gross non-performing assets below 0.5%. Arya.ag lends only a portion of the grain’s value and closely tracks prices, triggering margin calls when needed rather than absorbing losses itself.
“You’re not immune to risks,” Rao told TechCrunch. “But because your lending is completely secured against commodities, it will never happen that the prices will fall by 90%. You already have a margin of 30%, and with your mark to market, you’ve been able to control your NPAs and defaults.”
Financially, the company generated ₹4.5 billion (about $50 million) in net revenue in the year ended March 2025, with profit after tax of ₹340 million ($3.78 million). Profit has grown a further 39% so far this year. Arya.ag now serves nearly 900,000 farmers across 60% of India’s districts through a network of 12,000 leased warehouses.
The new capital will be used to expand technology deployments, including AI-based grain quality assessment, satellite crop monitoring, and blockchain systems for tracking stored produce. With improving profitability, Arya.ag is targeting IPO readiness within the next 18 to 20 months, while also exploring selective international expansion through a software-led approach.
