India’s one of the fastest growing Agritech start-up company DeHaat has secured a sum of 60 Million US dollars on Thursday, 1st December 2022 in a Series E funding round.
The Series E funding round was led by the private equity firms the Germany based Sofina Ventures and Temasek Ventures based in Singapore. The funding round also witnessed the participation of three of the company’s investors including Lightrock Ventures, Prosus Ventures and RTP Global. Whereas, the Venture Capital firms Dexter Capital and Vertices Partners present as the advisors for the Series E funding round.
The company reported that it had already secured a sum of 46 million US dollars in the month of October last Fiscal year as a part of the current funding round. The company had also secured an amount of 115 million US dollars in Series D funding round at the same time. Thus, the company raised funds for the third time in the span of two years.
Concerning on the latest fundraise the Chief Executive Officer and the Co-founder of the Agritech company Dehaat, Mr Shashank Kumar said that the company has witnessed 60 times more development in the past three years and four months span and the company has now set the base for a clear path for gaining the profits. The CEO also added that securing a Sum of 60 million US dollars when 70 percent of the fund raised in the last funding round are still left shows that the Dehaat gets successful in being the leader in the Agritech market.
The country’s one of the top Agri-tech start up DeHaat wishes to append 1 million farmers to the portfolio and also aims to branch out its franchises across the world.
About the Company DeHaat
The Agri-tech start-up was set up in the year 2012 by the co-founders Shashank Kumar, Abhishek Dokania, Amrendra Singh, Sunder Singh and Adarsh Srivastav, with its headquarters based in Gurugram and Patna.
The company operates on Artificial intelligence technology to provide its services to the farmers like the finest quality of farming processes, customised agricultural counselling, and wholesale connections to sell the farm products and also provides access to monetary services.
The company has consigned more than 2000 agribusiness academies which include input operators, banks, Fast-moving Consumer Goods companies and insurance partners, heavy output export companies, providing them the immediate access to the farmers for the transparency.
The company has a strong network of above 1, 5 Million farmers covering various states including Bihar, Maharashtra, Madhya Pradesh (MP), Jharkhand, Orissa, Gujarat, Chhattisgarh, Rajasthan, Haryana and West Bengal.
Photo Credit- Smart State India
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