Agraga, a Unified Digital Logistics Platform that seamlessly integrates asset holders to simplify cross-border logistics, has raised INR 70 crore in its recent Series A round led by IvyCap Ventures, a renowned homegrown venture capital firm, with participation from Alteria.
This latest infusion of funds will enable Agraga to expand operations across India from its current presence in 3 cities to over 15 cities by March 2024. Agraga plans to augment its technology stack to provide end-to-end solutions globally and improve its integrations with asset partners like ocean/air carriers, warehouses, transporters, and customs departments.
Co-founded by Venkatesh Narayanaswamy and Anoop Raghavan, Agraga commenced its operations in December 2021 and has remarkably bootstrapped its business to date with 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.
Speaking about the investment, Vikram Gupta, Founder, and Managing Partner, IvyCap Ventures says,
“We are thrilled about this partnership with Agraga in their pursuit of resolving the critical challenge of
cross-border logistics. 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.”
Tej Kapoor, Managing Partner of IvyCap Ventures will be joining the board of Agraga on behalf of
IvyCap Ventures.
Venkatesh Narayanaswamy, the Co-founder and CEO of Agraga, sheds light on the unique selling
proposition of the company and outlines its future roadmap, stating, “Having been associated with the
logistics industry for over a decade, our firsthand knowledge of the sector’s inefficiencies has led us to
recognize the crucial role that logistics cost efficiencies play in helping Indian enterprises compete
globally. The Indian government’s target to increase exports to USD 2 trillion by 2030 reinforces this
point. To achieve this objective, technology will be a critical enabler, and Agraga’s advanced technology
stack is well-equipped to support this endeavor. Our delayered supply chain offers significant cost benefits, while our streamlined process minimizes the coordination and monitoring efforts required by
our customers. 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. Ultimately, our
mission is to deliver a world-class experience to our customers and partners worldwide, while creating
long-term value for our stakeholders.”
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