The Indian online platform DeHaat has secured $115 million in its Series D funding round.
Backers include Belgian investment firm Sofina, private equity platform Lightrock India, as well as Singapore’s investment company Temasek, who co-invested in DeHaat with current investors Prosus, RTP Global, Sequoia Capital India and FMO. Dexter Capital was also an advisor during this largest funding round.
Vaidhehi Ravindran, a Lightrock India partner, said, “We have been following DeHaat’s progress through the years and are impressed with their steep growth trajectory combined with strong network of micro-entrepreneurs. Through innovative social engineering and tech-led execution, DeHaat has built largest first-mile network for farmers and is well-positioned to help transform agriculture by improving yields and farmer income.”
The start-up uses AI-enabled technology to offer full-stack agricultural services that will improve supply chain and production for Indian farmers by bringing them together with micro-entrepreneurs and buyers on the one platform.
DeHaat offers a range of services including improvement to market linkages to help farmers sell their produce, farming advice, access to financial services, and distributing good-quality agricultural inputs such as seeds and fertilisers.
The organisation claims to help increase the income of farmers by 50%, by increasing farm productivity, providing better price discovery, and helping farmers save money when purchasing agricultural inputs.
The Business to Farmers platform currently helps more than 650,000 farmers and 3000 micro-entrepreneurs and aims to grow into one of the largest agritech platforms worldwide, with the aim of expanding their virtual community to 5 million by 2024.
Shashank Kumar, Co-Founder & CEO, DeHaat said: “We have raised US$ 157 million from marquee investors in the last 30 months and our team has grown to a brigade of 850+ professionals with deep expertise in growth & strategy, supply chain, technology & agricultural science.”