Haryana, India based start-up, DeHaat raises USD 30 million in series C funding round on 19th of January. The organization claims to register 3.5x annual progression in the past two years and have served across 3,00,000 farmers across Jharkhand, U.P, Bihar, Odisha and West Bengal.
Investors: An online marketplace for farm services and products, DeHaat closed a USD 30 million deal led by Prosus Ventures in series C round. RTP Global and existing investors like FMO, Agfunder, Omnivore and Sequoia Capital India also participated in the funding round.
What the funding is for: According to sources, the fresh capital would be utilized for strengthening its technology and for network expansion in different states like Madhya Pradesh, Rajasthan and Maharashtra. They also aim to reach small farmers and try to fulfill their requirements like seeds, fertilizers, crop advisory and equipment.
Founders of the company: Shashank Kumar, Amrendra Singh
Primary objective of the company: The organization’s main aim is to connect farmers with institutional partners to provide them with capital and to assist them in connecting with the bulk buyers at the end of their working season to buyers such as Reliance fresh, Zomato, Udaan and others.
Founded date: February 6, 2012
Legal name of the company: Green Agrevolution Pvt. Ltd.
About the company: DeHaat is a privately held association which comes under the information technology and services sector, established in 2012. Its headquarters is located in Gurgaon, Haryana and has a work strength of around 201-500 employees. DeHaat is a technology led platform to provide end to end agricultural facilities to Indian farmers with a commitment to improvise the efficiency of the agricultural chain. They deal with various specialties like AI and machine learning, precision agriculture and Agri supply chain. The company has so far secured USD 46 million funds and are aiming to develop their technology to yield better results.
What the CEO has to say: “DeHaat provides end to end services like high quality segment specified inputs, financial services and customized advising and market linkage to farmers for the sale of their produce”. Said Shashank Kumar, CEO of DeHaat.
“Over 30 Agritech startups in India have raised funds since January 2020 reflecting the increased interest of investors in the sector in the last couple of years. Besides more than two dozen early-stage startups funded during the period, this space also saw larger rounds in scaled startups including Way cool, Ninja craft and Crofarm”. Said Amrendra Singh.
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