DeHaat, an online platform that offers full-stack agricultural services to farmers in India, has raised $115 million in a Series D financing round, which is said to be the largest funding round for any agritech startup in India. which was co-led by Sofina and Light rock besides Temasek and existing investors Prosus Ventures, RTP Global, Sequoia Capital India, and FMO.
“The uniqueness of its full-stack approach combined with the ‘phygital’ go-to-market strategy further reaffirmed our view that the company is on track to become a significant player in the farming industry in India,” said Yana Kachurina, principal at Sofina.
Based in Gurgaon and Patna founded in the year 2012 by the alumni from IIT Delhi, IIT Kharagpur, IIM Ahmedabad Amrendra Singh, Shashank Kumar. DeHaat is one of the fastest-growing start-ups in the Agri Tech sector and one of the very few companies providing end-to-end solutions and services to the farming community in India. they are building AI-enabled technologies to revolutionize supply chain and production efficiency in the farm sector. Currently, we are operating in eastern India – Bihar, UP, and Odisha – with 2,65,000+ farmers in our service network and our goal is to bring our services to 5 million farmers by 2024.
Shashank Kumar, co-founder, and chief executive officer, DeHaat, Said “DeHaat is on a mission to build the world’s largest agritech platform. Our team has grown to over 850 professionals with expertise in growth and strategy, supply chain, technology and agricultural science. The last seven months have been phenomenal with five-fold growth. Hence, we are well poised to replicate the success in all major agriculture clusters of India in the next 12-15 months.”
DeHaat, which is Hindi for the village, is assisting farmers with working capital, securing agri-input items such as seeds and fertilizers, and finding buyers after producing the yields.
The company incurred a 7X jump in its losses to Rs 18.15 crore in the financial year ending March 2020 from Rs 2.55 crore in the preceding fiscal.
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