Digital logistics start-up Agraga has raised Rs 70 crore in a funding round led by IvyCap Ventures with participation from Alteria, the company said on Tuesday.
The funds will enable Agraga to expand operations across India from its current presence in three cities to over 15 cities by March 2024, the company said in a statement.
The company plans to use the funds to expand footprint, enhance tech capabilities, optimize supply chain partnerships and improve its integrations with asset partners like ocean and air carriers, warehouses, transporters, and customs departments.
IvyCap Ventures Managing Partner Tej Kapoor will be joining the board of Agraga on behalf of IvyCap Ventures.
On the investment, IvyCap Ventures, Founder, and Managing Partner, Vikram Gupta said, "Their platform leverages technology to provide a transparent, streamlined, and cost-effective approach to the supply chain ecosystem, and we are excited about their vision of transforming the global logistics industry".
"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 thousands of MSMEs," Agraga, Co-founder and CEO, Venkatesh Narayanaswamy said.
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Agraga has a clientele of over 200 customers from the enterprise segment and MSMEs, and more than 500 digitally connected partners, providing them with avant-garde solutions in over 30 countries worldwide.
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