Agri-Tech Company Azaylla Secures Pre-Series A Funding from Insitor Impact Asia Fund II
Investment round will help local farmers bring products to market
— Parth Borkotoky, Azaylla’s CEO and chairman of its board of directors
PHNOM PENH, CAMBODIA, August 1, 2022 /EINPresswire.com/ -- Azaylla, a leading food distribution company in Cambodia, announced today it has received Pre-Series A funding from Insitor Impact Asia Fund II, an impact investment fund managed by Insitor Partners.
The company, which works with smallholder farmers and co-operatives across the country to source fresh produce, will use the new funding to grow its sustainable and socially responsible agri-business network, leveraging technology to supply supermarkets, hotels, restaurants, and caterers with local products.
“The need for bringing products direct from Cambodian producers to consumers has never been greater,” said Parth Borkotoky, Azaylla’s CEO and chairman of its board of directors. “We will make it possible for all Cambodian farmers and manufacturers to have access to a larger consumer base.”
The company will launch an online B2B platform that will make it easier for food industry professionals to buy local products. Combining consumer insight, market data, and curation, the platform provides consistent pricing and up-to-the-minute availability.
Cambodia currently imports around 70 percent of its fresh produce from neighboring countries, such as Vietnam and Thailand. Azaylla supports the domestic market by working directly with farmers to improve crop quality, increase yields, and access credit.
The investment in Azaylla marks the ninth in Cambodia for Insitor Partners, an impact fund manager based in Singapore. Founded in Phnom Penh in 2009, Insitor backs early-stage entrepreneurs building life-changing solutions for low-income customers in developing Asia. The fund’s 29 investments have impacted more than 50 million low-income customers across the region.
“Agriculture continues to play a crucial role in the development of Cambodia’s economy,” said Bradley Kopsick, Insitor’s Cambodia country director. “Azaylla works closely with farmers to address a range of day-to-day challenges that they face, including uncertain market demands and yields that lag behind neighboring countries.”
Incorporated in Cambodia in 2019, Azaylla received its first round of funding last year from Uberis Capital, a venture firm based in Phnom Penh.