DeHaat, India’s largest AgriTech platform, said that it has raised $115 million in Series D funding led by Belgium-based investment firm Sofina and Lightrock India. Existing investors Prosus, RTP Global, Sequoia Capital India, and FMO joined Temasek as co-investors in the round. This funding round was advised by Dexter Capital and Vertices Partners.
Shashank Kumar, CEO & Co-Founder, DeHaat said, “At DeHaat, we are on a mission of building the world’s largest AgriTech platform. We have raised US$ 157 million from marquee investors in the last 30 months and our team has grown to a brigade of 850+ professionals with deep expertise in growth & strategy, supply chain, technology & agricultural science. The last 7 months have been phenomenal with 5X growth for DeHaat. We are now well-positioned to replicate the success in all major agriculture clusters of India in the next 12-15 months.”
DeHaat, which means “village” in Hindi, is addressing three of the most pressing issues that farmers confront in India (and elsewhere): working capital, securing Agri-inputs like seeds and fertilizers, and finding consumers after the harvests are produced. Only approximately a third of the crop produced by Indian farmers makes it to the major markets. Brands that sell Agri-input items, institutional financers, and buyers have all been brought together on one platform by the Gurgaon and Patna-based firm. It also partners with over 3,000 microentrepreneurs to provide last-mile aggregation and delivery services.
The company, which runs a hotline to connect with farmers, also has an Android app with the same name that is available in different languages.
According to DeHaat, the company helps around 650,000 farmers in Bihar, Uttar Pradesh, Jharkhand, and Odisha. It has around 850 different agribusinesses on its site.
Uniqueness of DeHaat
- DeHaat platform specializes in providing crop agnostic, service agnostic and region agnostic data-driven solutions and services.
- Its unique farm2fork approach also makes it more relevant, pragmatic and highly scalable.
- Data driven decision to optimize their platform is the key behind it’s success.
- Strong market linkage and close network of micro-entrepreneurs.
Upcoming objective of DeHaat
The revenues from the current fundraise will be used to extend the company’s geographic emphasis, enhance investment in technical infrastructure, and broaden its financial services products. Apart from that “Design super-strong supply chain by holding the basic focus on the more to design smooth and fast coordination among the manufacturer, procurement and distribution at the right time, for the right product, at right price point to retailer and farmer said Vipin Tokas VP(Supply chain), DeHaat.
The company has vision to have 5million farmer In its platform by 2024.Its also widely open its door and welcome new talent from tech and agricultural background to join and work together.