Gurugram and Patna-based agritech startup DeHaat recently announced that it has raised $12mn (₹83Cr) from investors. The recent funding round was led by Sequoia India and saw participation from FMO, the Dutch entrepreneurial development bank along with existing investors Omnivore and AgFunder.
According to the company website, DeHaat is a technology-based platform offering full-stack agricultural services to farmers, including distribution of high-quality Agri inputs, customized farm advisory, access to financial services, and market linkages for selling their produce.
Earlier in March last year, the company had raised $4mn (₹29Cr) in pre-Series A funding round led by Omnivore and AgFunder, which was topped up in May with an additional $3mn (₹20Cr) of venture debt from Trifecta Capital.
According to a company statement, the new funding will be used to automate its supply chain and build the next layer of data analytics to drive further supply chain efficiency. The company plans to scale up to 2,000 rural retail centers for last-mile delivery as well as farm produce aggregation and 1 million farmers on the network by 2021.
Shashank Kumar, Co-Founder, and CEO of DeHaat said, “We are excited to partner with Sequoia India and FMO as we drive towards one million farmers on the DeHaat platform.
“Sequoia’s deep expertise in B2B platforms and technology products combined with FMO’s expertise in agricultural value chain financing will help DeHaat accelerate its growth while delivering massive impact for the farmers we work with,” he added.
The platform serves more than 210,000 farmers across Bihar, Uttar Pradesh, Jharkhand, and Odisha and provides them access to more than 3,000 agricultural inputs, combined with artificial intelligence-based customized crop advisory content of pest and disease management for major crops delivered via mobile app and call centers.
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