Agrizy, a Bengaluru-based digital marketplace, is setting out to address the pricing inefficiencies and broken supply chain in the Indian agritech market. With the current low productivity and falling revenues in the market due to the insufficient supply of credit, Agrizy has taken on the challenging task of connecting wholesalers with producers of non-perishable farm products and marketable cash crops, such as cereal, pulses, oilseed, and jute to facilitate transactions at scale and sustainable pricing.
Agrizy began in 2021 with the mission to better promote transactions between agricultural suppliers, processors, and buyers to help the industry reach a $2.1 billion expected value by 2025. The platform possesses networking, logistics, and warehousing services, as well as performs transaction automation to facilitate trade between wholesalers and producers. It also helps buyers and sellers with working capital and earns a commission on transactions and interest on capital.
Agrizy’s sales growth in FY2023 is driven by the production of unique agricultural products, increased interest in SME processors, and greater use of element life cycle technologies. For FY2, Agrizy hopes to strengthen its export sales channels and strengthen its market position in this segment to increase revenue. The platform has spread across North and Central India and currently has over 100 B2B customers.
According to Agrizy founder Vicky Dodani, the platform acts as a marketplace between suppliers and food processing companies, allowing Agrizy users to source raw materials transparently. Agrizy has partnered with NBFCs to provide working capital support to agribusiness, which is one of the biggest hurdles in their business development. The platform collects data on the behavior of processors on the platform, including the number of applications placed and payment history, to enable NBFC managers to provide better credit rating decisions.
Agrizy wants to explore new areas to expand its reach, so we plan to hire a new team to manage the export team. According to Dani, Agrizy’s focus is currently on the Indian subcontinent, neighboring countries, and some Middle Eastern countries.
In conclusion, Agrizy’s online marketplace platform is a business solution for supply chain disruption in the Indian agritech market. Its focus on sustainable pricing and trading at scale while providing working capital to agri-food processors is a much-needed solution for the industry. The platform’s commitment to expanding into new markets demonstrates its intent to positively impact the agritech industry in India and abroad.