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Full-stack agritech platform DeHaat has raised $60 million in a new financing round.
Sofina Ventures & Temasek co-led the Series E funding, with other existing investors RTP Global Partners, Prosus Ventures, and Lightrock India also participating.
This is DeHaat’s third fundraiser in the past two years as the start-up plans to add a million-plus farmers to its platform, expand its footprints to newer geographies, and broaden its service offerings.
Shashank Kumar, Co-founder & CEO, DeHaat, said, “60x growth of DeHaat in the last 40 months has been phenomenal and has laid a foundation for a clear path to profitability. Closing a $60 million round when 70 per cent of the last raise is still left signifies a victorious status of DeHaat as a market leader in agtech.”
DeHaat is well capitalised at this point and aims to leverage this status to consolidate the growth towards efficiency and profitability. “Hence, we aim to break even in the next 12 months along with 2-2.5 times growth on a y-o-y basis,” Kumar added.
Start-up’s history
The Patna and Gurgaon-based business to farmers (B2F) platform was founded in 2012 by Amrendra Singh, Shyam Sundar Singh, Adarsh Srivastav, and Shashank Kumar to offer end-to-end agricultural services to farmers, including distribution of agricultural inputs, personalised farm advisory, access to financial services, and market linkages for selling their produce.
DeHaat claims it has built a last-mile supply chain in more than 1,10,000 villages across over 150 districts of India through its digitised network of over 10,000 micro-entrepreneurs called ‘DeHaat Centers’ for last-mile delivery as well as aggregation.
The start-up said it is serving more than 1.5 million farmers located across 11 Indian agricultural States including Bihar, Uttar Pradesh, Jharkhand, Maharashtra, Madhya Pradesh, Rajasthan, West Bengal, Odisha, Gujarat, Chhattisgarh and Haryana with its full-stack agri value chain offerings.
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