Agritech firm DeHaat raises USD 30 mn to fund its expansion plan
Agritech firm DeHaat on Tuesday said it has raised USD 30 million (around Rs 220 crore) from various investors to fund its expansion plan and strengthen technology platform. The company raised USD 30 million in Series C funding, led by Prosus Ventures (formerly Naspers Ventures). RTP Global co-invested in the round with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder, the company said in a statement.
“The recent investment from marquee investors like Prosus Ventures, RTP Global and others is a strong validation of our goal to become the world’s largest farmer aggregator and will help us scale up in both size and scope,” Shashank Kumar, Co-Founder & CEO, DeHaat said. Based in Gurgaon and Patna, DeHaat was founded in 2012 by Amrendra Singh, Shyam Sundar, Adarsh Srivastav and Shashank Kumar. The company is a technology-based business to farmers (B2F) platform that offers full-stack agricultural services to farmers, including distribution of high-quality agricultural inputs, customized farm advisory, access to financial services, and market linkages for selling their produce.
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With the Series C investment, the company plans to strengthen the technology platform and expand geographically to other parts of India. Currently, it is operating across Bihar, Uttar Pradesh, Jharkhand and Odisha.