DeHaat raises $115M in Series D round

dehaat funding

 DeHaat, a technology-enabled platform providing end-to-end agricultural services to farmers in India, has raised $115 million in a Series D round led by Belgium-based investment firm Sofina and Lightrock India. 

Temasek co-invested in the round, with participation from existing investors Prosus, RTP Global, Sequoia Capital India, and FMO. 

Dexter Capital and Vertices Partners served as the advisors of this funding round.

In a press note, Shashank Kumar, Co-founder and CEO, DeHaat said, “We at DeHaat are on a mission of building the world’s largest agritech platform. We have raised $157 million from marquee investors in the last 30 months and our team has grown to a brigade of 850+ professionals with deep expertise in growth and strategy, supply chain, technology, and agricultural science. The last seven months have been phenomenal with 5x growth for DeHaat. Hence, we are now well poised to replicate the success in all major agriculture clusters of India in the next 12-15 months.”

The team plans to use the freshly raised funds to expand its technological offerings, for value-added services, and people.

Commenting on the investment, Yana Kachurina, Principal, Sofina said, “Through our due diligence, we became convinced that DeHaat is bringing substantial value-add to the farming community in India. 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.”

The Gurugram and Patna-based startup was established in 2012 by IIT, IIM, and NIT alumni Amrendra Singh, Shyam Sundar, Adarsh Srivastav, and Shashank Kumar. DeHaat is a technology-based business-to-farmers (B2F) platform that provides full-stack agricultural services, including distribution of high-quality agricultural inputs, customized farm advisory, access to financial services, and market linkages for selling their produce. The team initially also had IIT-Kharagpur alumnus Manish Kumar, who is no longer a part of DeHaat.

Vaidhehi Ravindran, Partner at Lightrock India said, “We have been following DeHaat’s progress through the years and are impressed with their steep growth trajectory combined with a strong network of micro-entrepreneurs. 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. ”

DeHaat seems to have built a solid platform to empower the farmers in the country. I’m sure the company will continue to reach heights of success in the time to come. My best wishes to the team of DeHaat.

Shishir Gupta, Founder and CEO, StartupLanes

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