A session of acquisitions is at the peak. In a recent deal, DeHaat, an Agritech startup, has acquired FarmGuide. One month back, DeHaat raised $30 million in its series C funding round. FarmGuide is B2B Software as a Service(SaaS) platform.
How FarmGuide Acquisition will Help DeHaat?
The current deal will help DeHaat to integrate the FarmGuide data science and spatial tech-oriented platform with its existing platform. As per the agreement, the FarmGuide team will join DeHaat. The main database and other related platforms of FarmGuide will be the property of DeHaat.
FarmGuide said that the DeHaat platform will be more advanced with the current acquisition. It will help farmers to get advisory services based on integrated land parcels. Farmers will receive different kinds of guidance including crop input, financial services, and market linkage with other partners. This will align DeHaat with its mission to maximize farmers’ profit.
Speaking about the current deal, Shyam Sundar Singh, Co-founder, DeHaat, said, “We have been building a full stack tech platform to map the entire Agri value chain between Indian farmers and agribusinesses. The tech platform developed by FarmGuide complements our tech vision of bringing efficiency and transparency to the Agri supply chain. Its GIS technology and ability to use satellite data for crop monitoring and analysis will help DeHaat to provide customized crop advisory solutions to farmers and relevant agri insights to businesses transacting on the DeHaat platform for Agri input as well as agri output.”
DeHaat also revealed that the startup is currently helping around 380,000 farmers to make more profits from their crops. Geographically, the company is currently working in Bihar, Uttar Pradesh, Jharkhand, and Odisha.
About DeHaat and FarmGuide
DeHaat provides Artificial Intelligence-based crop advice to the farmers. Currently, it helps farmers with more than 3200 agricultural inputs. Among these inputs, pest and disease management is the focus area. The company provides these services to farmers through call centers and mobile app.
The company is also helping farmers to sell crops directly to the buyers. It has 600+ commodity buyers who buy the items directly from the farmers. This process has helped farmers to get more profit. DeHaat is planning to extend its geographical area with the help of $30 million funding in the latest Series C round.
FarmGuide is one of the best technology-oriented agritech startups, founded in 2016 by IIT alumnus Nikhil Toshniwal and Ankit Gupta. The startup developed a B2B SaaS product based on satellite data. It will help the customers in knowing farm boundaries. It will also provide data-driven advice for crops.
FarmGuide’s state-of-the-art technology will provide real-time advice to the farmers. It will help the farmers related to water, crop stress, and nutrition management.
With the help of Rs 14 crore funding, FarmGuide developed the SaaS-based technology platform to provide data-driven helps to the farmers. The inclusion of satellite images makes the platform more advanced and beneficial.