India-based agritech startup DeHaat raises $115 million in Series D funding, the largest ever for an agritech startup in India.
Indian agritech startup DeHaat raises $115 million in the largest funding round for an agritech startup in India, in a country where farm produces yields two-thirds of the country’s $1 trillion in annual retail spending.
Belgium-based Sofina, along with London-based Lightrock, co-led the 10-year-old startup’s Series D funding round. Singapore government investment fund Temasek and existing investors Prosus Ventures, RTP Global, Sequoia Capital India, and FMO participated in the new round. According to CEO and co-founder, Shashank Kumar including the latest game, agritech startup has raised $157 million funding.
Based in Gurgaon and Patna, DeHaat was founded in 2012 by IIT, IIM & NIT alumni Amrendra Singh, ShyamSundar, AdarshSrivatsav&Shashank Kumar. DeHaat is a technology-based business to farmers (B2F) platform that offers full-stack agricultural services to farmers, including distributing high-quality agricultural inputs, access to financial services, customized farm advisory, and market linkages for selling their produce.
DeHaat has built a rural retail network of nearly 3,000 micro-entrepreneurs for last-mile delivery and aggregation and serves more than 650,000 farmers located across the Indian states of Bihar, Uttar Pradesh, Jharkhand, and Odissa. The startup has now started expanding into new Indian states of Madhya Pradesh and Rajasthan with multiple Agri services for farmers.
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