Agraga raises Rs 70 Cr in Series A led by IvyCap Ventures

The funds will be deployed to expand Agraga's footprint from three cities to more than 15 cities by March 2024, enhance tech capabilities, and optimise supply chain partnerships.

Agraga raises Rs 70 Cr in Series A led by IvyCap Ventures

Tuesday May 16, 2023,

2 min Read

Digital logistics platform Agraga has raised Rs 70 crore in a Series A round led by IvyCap Ventures Advisors Private Limited, with participation from Alteria Capital.

The company said the funds will be deployed to expand the footprint from three cities to more than 15 cities by March 2024, enhance tech capabilities, and optimise supply chain partnerships.

The company also plans to augment its technology stack to provide end-to-end solutions globally and improve its integrations with asset partners, including ocean and air carriers, warehouses, transporters, and customs departments.

Tej Kapoor, Managing Partner of IvyCap Ventures, will be joining the board of Agraga on behalf of the VC firm. 

"As we continue to expand our national and global presence and maintain our low-touch model, Agraga has the ability to provide scalable solutions to MSMEs. Ultimately, our mission is to deliver a world-class experience to our customers and partners worldwide, while creating long-term value for our stakeholders," stated Venkatesh Narayanaswamy, Co-founder and CEO of Agraga.

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Founded by Anoop Raghavan and Venkatesh Narayanaswamy in 2021, Agraga is a unified digital logistics platform that integrates asset holders to simplify cross-border logistics. It provides a seamless digital experience throughout the shipment lifecycle, from booking to tracking to execution.

Currently, the startup serves over 200 customers from the enterprise segment and MSMEs, and has more than 500 digitally connected partners, providing them with avant-garde solutions in more than 30 countries worldwide. 

The startup aims to eliminate multiple intermediaries to deliver price discoverability, transparency, route optimisation, and better turnaround times digitally via its platform. 

Mumbai-based IvyCap Ventures, founded in 2011, is a sector-agnostic venture capital firm that manages assets of $530 million and has a portfolio of more than 30 companies across sectors such as ConsumerTech, HealthTech, Fintech, EdTech, Saas, Enterprise Tech, DeepTech and others.  

It invests in early- to growth-stage start-ups (Seed Pre-Series A, Series A, and Series B) that are building innovative technology-based products, services, and business solutions and have the potential to scale and adapt to lead in a cut-throat market.

Its current portfolio includes brands such as Purplle, Bewakoof, Biryani By Kilo and more.


Edited by Megha Reddy

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