Agraga Secures Rs 100 Crore in Pre-Series B Funding
Digital freight forwarder Agraga has successfully obtained Rs 100 crore (approximately $12 million) in its pre-Series B funding round, which was led by Bajaj Finserv Group, alongside participation from existing investor IvyCap Ventures and selected global angel investors. Agraga previously raised Rs 70 crore during its Series A funding round in May 2023, which was also led by IvyCap Ventures with involvement from Alteria.
Use of Funds to Enhance Logistics Solutions
The funds will be directed towards expanding Agraga’s cross-border logistics platform, fortifying its Less-than-Container Load (LCL) segment, boosting automation and visibility tools, and amplifying its footprint in key export hubs. Agraga, established in 2021, provides a cohesive platform that unifies freight booking, customs processing, warehousing, and integrated financial services.
Simplifying Cross-Border Logistics for Businesses
Agraga strives to streamline cross-border logistics for MSMEs and mid-sized enterprises by delivering real-time pricing, shipment tracking, and compliance workflows. The company has developed its operational framework around four essential components: discovery, tracking, execution, and data-driven decision-making.
Agraga proudly serves over 700 clients and collaborates with around 1,000 vendors across 40 global trade routes. Additionally, the firm has alliances with financial institutions, including ICICI Bank and IDFC First Bank. Its subsidiary, Byteport Logistics, is dedicated to facilitating channel-partner aggregation for MSMEs and LCL clients.
Bajaj Finserv’s Commitment to Startup Growth
Bajaj Finserv actively supports Indian startups through its corporate venture division, Bajaj Finserv Ventures, and a newer alternative investment branch focusing on fintech, healthcare, and technology. The organisation endorses startups with business loans and has invested in a variety of firms such as Anumati, MobiKwik, and Pennant. Recently, Bajaj Finserv led a Rs 72 crore pre-Series B funding round for KisanKonnect.