iStockNEW DELHI: DeHaat has raised $115 million in Series D funding, led by Belgium based investment firm Sofina and Lightrock India. Temasek co-invested in the round, with participation from existing investors Prosus Ventures, RTP Global, Sequoia Capital India and FMO. Dexter Capital and Vertices Partners were the advisors of this funding round.
In a statement Shashank Kumar, co-Founder & CEO, DeHaat said, “We have raised $157 million from marquee investors in the last 30 months and our team has grown to 850 professionals with expertise of growth & strategy, supply chain, technology and agricultural science.”
Based in Gurgaon and Patna and founded in 2012 by IIT, IIM & NIT alumni Amrendra Singh, Shyam Sundar, Adarsh Srivastav and Shashank Kumar, DeHaat is a technology-based business to farmers (B2F) platform that offers full-stack agricultural services to farmers, including distribution of agricultural inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.
“The uniqueness of DeHaat's full-stack approach combined with the “phygital” go-to-market strategy has reaffirmed our view that the company is on track to become a player in the farming industry in India,” said Yana Kachurina, Principal, Sofina, in a statement.
With an aim to drive efficiency & transparency in this $ 350 billion industry, DeHaat has been building a digitised network of farmers as well as last-mile service providers and providing direct access to farmers through its physical as well as digital platform.
DeHaat has currently built a rural retail network of more than 3,000 DeHaat microentrepreneurs for last-mile delivery as well as aggregation, serving more than 650,000 farmers located across Bihar, UP, Jharkhand and Odisha. DeHaat has also started expanding to new geographies like MP and Rajasthan with a complete 360 degree set of agri offerings for farmers.
In a statement, Vaidhehi Ravindran, Partner at Lightrock India said, "Through innovative social engineering and tech-led execution, DeHaat has built the largest first mile network for farmers and is well positioned to help transform agriculture by improving yields and farmer income.”
Earlier this year it acquired Farm Guide - a SaaS based platform to provide satellite-based insights and advisory to farmers. The current tech team has grown to 120, building unique AI/ML based solutions related to crop advisory, last mile supply chain traceability and B2B SaaS agritech platform for input sellers as well as output buyers.
The company has raised this round within nine months of the last round, and has completed two strategic acquisitions so far for inorganic growth.
In a statement Shashank Kumar, co-Founder & CEO, DeHaat said, “We have raised $157 million from marquee investors in the last 30 months and our team has grown to 850 professionals with expertise of growth & strategy, supply chain, technology and agricultural science.”
Based in Gurgaon and Patna and founded in 2012 by IIT, IIM & NIT alumni Amrendra Singh, Shyam Sundar, Adarsh Srivastav and Shashank Kumar, DeHaat is a technology-based business to farmers (B2F) platform that offers full-stack agricultural services to farmers, including distribution of agricultural inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.
“The uniqueness of DeHaat's full-stack approach combined with the “phygital” go-to-market strategy has reaffirmed our view that the company is on track to become a player in the farming industry in India,” said Yana Kachurina, Principal, Sofina, in a statement.
With an aim to drive efficiency & transparency in this $ 350 billion industry, DeHaat has been building a digitised network of farmers as well as last-mile service providers and providing direct access to farmers through its physical as well as digital platform.
DeHaat has currently built a rural retail network of more than 3,000 DeHaat microentrepreneurs for last-mile delivery as well as aggregation, serving more than 650,000 farmers located across Bihar, UP, Jharkhand and Odisha. DeHaat has also started expanding to new geographies like MP and Rajasthan with a complete 360 degree set of agri offerings for farmers.
In a statement, Vaidhehi Ravindran, Partner at Lightrock India said, "Through innovative social engineering and tech-led execution, DeHaat has built the largest first mile network for farmers and is well positioned to help transform agriculture by improving yields and farmer income.”
Earlier this year it acquired Farm Guide - a SaaS based platform to provide satellite-based insights and advisory to farmers. The current tech team has grown to 120, building unique AI/ML based solutions related to crop advisory, last mile supply chain traceability and B2B SaaS agritech platform for input sellers as well as output buyers.
The company has raised this round within nine months of the last round, and has completed two strategic acquisitions so far for inorganic growth.
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