DeHaat’s raised $30 million
In a Series-C round led by Prosus Ventures and early-stage tech investor RTP Global, Agritech platform DeHaat raised $30 million (Rs 222 crore) as it aims to scale up its farmer’s network across western and central India.
Also participating in this round were established investors Sequoia Capital India, Dutch entrepreneurial development bank FMO, Omnivore, and AgFunder.
Established in 2012 by Amrendra Singh, Shyam Sundar, Adarsh Srivastav and Kumar, IIT, IIM, and NIT alumni, the company has established a rural retail network of more than 1,300 last-mile distribution micro-entrepreneurs serving more than 400,000 farmers across Bihar, UP, Jharkhand, and Odisha.
“In addition to expanding and strengthening our existing services to improve the livelihoods of Indian farmers and rural micro-entrepreneurs with the help of technology, we will expand our outreach to farmers in Rajasthan and Madhya Pradesh,” said co-founder Shashank Kumar.
Since 2018, the company has been pursuing financing from external investors and has reported almost four-fold annual growth over the past two years. It mixes 630 tons of fruits, vegetables, and food grains on a regular basis and sells through e-commerce channels such as Amazon and BigBasket, modern Big Bazaar and More retail stores, and fast-moving consumer goods companies such as ITC and Cargill India.