Agritech services firm DeHaat, which mainly operates in Bihar, Jharkhand, Uttar Pradesh, and Odisha, proposes to expand its operations to Madhya Pradesh and Rajasthan utilising the latest funding of $30 million raised from investors led by Prosus Ventures.
RTP Global co-invested in the DeHaat’s C Series funding with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder. Prior to this round, DeHaat had raised a total of $16 million.
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About 4 lakh farmers are using DeHaat’s technology platform to buy inputs such as fertilisers and seeds, sell their produce and also seek crop advisory and financial services, said co-founder and CEO, Shashank Kumar.
DeHaat, which also has a physical presence in about 1,400 locations in the rural areas of eastern India, plans to strengthen its technology platform and offer newer products such as cattle feed and services like spraying, while providing farmers an access to financial services companies, Kumar said. Volumes of farm produce such as corn, bajra, wheat, rice, fruits and vegetables aggregated through DeHaat platform stands at 630 tonnes a day as compared to 220 tonnes in March-April last year. Also, DeHaat delivers about 8,500 orders a day for inputs , Kumar said.
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Founded in 2012 and based in Gurugram and Patna, DeHaat provides farmers with access to over 4,000 agricultural inputs, combined with AI-based customised crop advisory content of pest and disease management for major crops delivered via mobile app and call centres.
“DeHaat will have a major societal impact in India, improving the earning potential for Indian farmers and overall yield for the sector while also enabling micro-entrepreneurs all over the country,” said Ashutosh Sharma, Head of India Investments, Prosus Ventures.