Agritech Platform DeHaat receives $115 million from Sofia & Other Investors
DeHaat, a full-stack agri-tech platform, has raised $115 million in a Series D round led by Belgium-based investment firm Sofina and Lightrock India.
Temasek, the Singapore government investment fund, also participated in the round, along with existing investors Prosus, RTP Global, Sequoia Capital India, and FMO. The new funds will be used to improve the company's technology and to hire more employees.
DeHaat is a technology-based business-to-farmers (B2F) platform founded in 2012 by Kumar, Shyam Sundar Singh, Amrendra Singh, and Adarsh Srivastav that provides full-stack agricultural services to farmers through its digitised network of farmers and last-mile service providers.
According to Shashank Kumar, cofounder and CEO of DeHaat, the Delhi-based startup has raised $157 million to date, including the latest round.
According to startup industry data tracking platform Tracxn, the company was last valued at $158 million after raising $30 million in a round led by Prosus (formerly Naspers) in January.
According to sources, the latest round has tripled the company's valuation to around $450 million. The funds will be used to expand the company's network, improve its technological interface, and expand value-added services.
According to Kumar, the company is currently generating Rs 100 crore in revenue per month and expects to close the fiscal year ending March 31, 2022, at Rs 1,400 crore, a nearly four-fold increase from its Rs 352 crore revenue as of March 31, this year.
DeHaat is a technology-based business-to-farmers (B2F) platform founded in 2012 by Kumar, Shyam Sundar Singh, Amrendra Singh, and Adarsh Srivastav that provides full-stack agricultural services to farmers through its digitised network of farmers and last-mile service providers.
DeHaat has established a rural retail network of over 3,000 micro-entrepreneurs for last-mile delivery and aggregation, with a total farmer base of 700,000 on its platform.
It has approximately 650 buyers who buy from farmers and approximately 150 sellers who sell various farming-related products to farmers.
“Around 70% of our current revenues come from output services (farmers selling), while around 30% of it is from input services,” Kumar said.
“The last seven months have been phenomenal with a five-time growth for DeHaat... we are now well poised to replicate the success in all major agriculture clusters of India in the next 12-15 months,” Kumar said.
It is currently present in seven states and plans to expand its reach across regions in the future.
Aside from facilitating commerce for farmers, it also provides advisory services for various aspects of farming such as seeds and yields. To add a layer of credit to the platform, the company has now partnered with banks and non-banking financial companies. So far, it has disbursed loans totaling Rs 75 crore.
Temasek, the Singapore government investment fund, also participated in the round, along with existing investors Prosus, RTP Global, Sequoia Capital India, and FMO. The new funds will be used to improve the company's technology and to hire more employees.
DeHaat is a technology-based business-to-farmers (B2F) platform founded in 2012 by Kumar, Shyam Sundar Singh, Amrendra Singh, and Adarsh Srivastav that provides full-stack agricultural services to farmers through its digitised network of farmers and last-mile service providers.
According to Shashank Kumar, cofounder and CEO of DeHaat, the Delhi-based startup has raised $157 million to date, including the latest round.
According to startup industry data tracking platform Tracxn, the company was last valued at $158 million after raising $30 million in a round led by Prosus (formerly Naspers) in January.
According to sources, the latest round has tripled the company's valuation to around $450 million. The funds will be used to expand the company's network, improve its technological interface, and expand value-added services.
According to Kumar, the company is currently generating Rs 100 crore in revenue per month and expects to close the fiscal year ending March 31, 2022, at Rs 1,400 crore, a nearly four-fold increase from its Rs 352 crore revenue as of March 31, this year.
DeHaat is a technology-based business-to-farmers (B2F) platform founded in 2012 by Kumar, Shyam Sundar Singh, Amrendra Singh, and Adarsh Srivastav that provides full-stack agricultural services to farmers through its digitised network of farmers and last-mile service providers.
DeHaat has established a rural retail network of over 3,000 micro-entrepreneurs for last-mile delivery and aggregation, with a total farmer base of 700,000 on its platform.
It has approximately 650 buyers who buy from farmers and approximately 150 sellers who sell various farming-related products to farmers.
“Around 70% of our current revenues come from output services (farmers selling), while around 30% of it is from input services,” Kumar said.
“The last seven months have been phenomenal with a five-time growth for DeHaat... we are now well poised to replicate the success in all major agriculture clusters of India in the next 12-15 months,” Kumar said.
It is currently present in seven states and plans to expand its reach across regions in the future.
Aside from facilitating commerce for farmers, it also provides advisory services for various aspects of farming such as seeds and yields. To add a layer of credit to the platform, the company has now partnered with banks and non-banking financial companies. So far, it has disbursed loans totaling Rs 75 crore.
.jpg "Mentza : Redefining Career Readiness through AI-Driven Skill Assessments & Mentoring")
