The last few years have brought different innovative startups to India. Fintech and Edtech is the most growing field for new ventures. India is still known as Agriculture dominated country.
To make things better for farmers and consumers, Agri-tech startups are also growing. DeHaat is one such unique Agri-tech startup. In its series C funding, the startup has raised $30 Million from its existing investors.
Funding details and Investors View about DeHaat
DeHaat’s initial target is to help 10 million farmers. Through its digital initiative, the startup wants to increase the profit margin for the existing farmers. To achieve its goal, DeHaat is providing nearby service delivery centers. The company is also inviting different agriculture companies for the betterment of the Indian Farmers.
With the current funding of $30 million, DeHaat plans to expand its network. The company is planning to start its existing operations in different geographical areas of India. Since the company is technology-driven, so they also want to improve data science and deep learning for better strategy and results.
In earlier funding rounds, it raised $12 million(83 crores) in April 2020. $4 million and $3 million investments were raised in March, and May of 2019 respectively.
Sequoia Capital India, FMO, Omnivore, and AgFunder are the main investors of DeHaat Dexter Capital was the financial advisor in the last round of funding. DeHaat is also looking for acquiring other companies as a plan to expand the operations.
DeHaat investors also praised DeHaat operations. Ashutosh Sharma, Head of Prosus Ventures in India, said, ” we are happy to be one of the investors in DeeHaat. The Startup will have a great impact in India where the economy mainly depends on agriculture and the farmers. It is commendable to see that DeHaat is creating entrepreneurs in rural areas where opportunities are limited.”
Another investor RTS global said, ” we have a close watch on DeHaat from last 18 months. Development is amazing. DeHaat has the proper infrastructure for the exploding agritech industry in India. It is a challenging market but Shashank and the team have the right expertise to grow. We are excited to be on board.
DeHaat Growth and Operations
Shashank Kumar, co-founder, and CEO of DeHaat, is quite happy with the scalability of the operations. He said that the company is bringing a positive change in the life of Indian Farmers and small entrepreneurs in rural area.
DeHaat was founded by IIT alumni Shashank and Manish Kumar. Amrendra Singh, Shyam Sundar, and Adarsh Srivastav are the other founding team members. Later, Manish left DeHaat. The company was founded in 2012. Its head offices are located in Patna and Gurugram.
As per DeHaat official statement, currently, it is working with the farmers and micro-entrepreneur of UP, Odisha, Bihar, and Jharkhand states. 360, 000 farmers and 1300 small entrepreneurs have taken the advantage of DeHaat services. DeHaat saw annual growth of 3.5x in the last two years.
DeHaat is helping the farmers through its AI-based content about pest control and disease management in the crops. The company is providing more than 4000 inputs to farmers through its mobile app and call center.
To get a better rate for the farmers’ crops, DeHaat has a network of 500 buyers who buys the items directly from farmers.