Agri-tech firm Arya.ag has raised $60 million in equity and debt round. The equity round was led by Asia Impact SA, Lightrock India and Quona Capital, and the debt round was led by US International Development Finance Corporation and other investors. Almost $44 million funding came from equity, and the rest $16 million were raised as debt, Anand Chandra, co-founder of Arya.ag said in a statement.

The company plans to utilise this capital in expanding warehouses, strengthening the employee base and developing technology. “On the commerce and the market connection platform, we are at $200 million ARR, and we want to take it to a $1 billion mark in the next 12 months,” Chandra added.

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Founded in 2013 by Chattanathan Devarajan, Prasanna Rao and Anand Chandra, Arya.ag allows farmgate storage and supplies warehousing and finance solutions to farmers. The company is also planning to offer logistics and insurance services. It currently manages over 3 million metric tons of agri commodities in 21 states in India and claims to boost finance of more than $700 million per year.