DeHaat full-stack Agritech platform raises US $ 115 million in D-series funding round
New Delhi, India –October 27, 2021– DeHaat, thetechnology platform providing end-to-end agricultural services to farmers in India,announced today that it has raised US $ 115 million in Series D funding, led by Belgian investment firm Sofina and Lightrock India. Temasek co-invested in the cycle, with participation from existing investors Prosus Ventures, RTP Global, Sequoia Capital India and FMO.Dexter Capital and Vertices Partners were the advisers of this round table.
Shashank Kumar, Co-Founder and CEO DeHaat,noted, “At DeHaat, our mission is to build the largest Agritech platform in the world. We have raised US $ 157 million from renowned investors over the past 30 months and our team has grown into a brigade of over 850 professionals with deep expertise in growth and strategy, supply chain, technology and agricultural science. . The past 7 months have been phenomenal with 5x growth for DeHaat. Therefore, we are now well positioned to replicate success in all of India’s major agricultural clusters over the next 12-15 months.. “
Based in Gurgaon & Patna and founded in 2012 by IIT, IIM & NIT alumni Amrendra Singh, Shyam Sundar, Adarsh Srivastav & Shashank Kumar, DeHaat is a business technology platform for farmers (B2F ) which provides comprehensive agricultural services to farmers. , including the distribution of high quality agricultural inputs, personalized agricultural advice, access to financial services and market links to sell their products.
In an effort to drive efficiency and transparency in this $ 350 billion industry, DeHaat has built a digitized network of farmers as well as last mile service providers and provides direct access to farmers through its platform. physical and digital.
DeHaat has currently built a rural retail network of over 3,000 DeHaat microentrepreneurs for last mile delivery as well as aggregation, serving over 650,000 farmers located in Bihar, UP, Jharkhand and Odisha. DeHaat has now started to expand to new geographies like MP and Rajasthan with a full set of 360 degree Agri offerings for farmers.
According to the company, DeHaat is firmly committed to continuing to invest in technology. Earlier this year, it acquired Farm Guide – a SaaS platform for delivering information and advice to farmers via satellite. The current tech team has grown to 120, creating unique AI / ML-based solutions related to crop advice, last mile supply chain traceability and the B2B SaaS agrotech platform for sellers of inputs as well as buyers of products.
Yana Kachurina,Director, Sofinanoted, “Through our due diligence, we have become convinced that DeHaat brings substantial added value to the farming community in India. The uniqueness of its full-stack approach combined with the “phygital” go-to-market strategy has further reaffirmed our view that the company is poised to become a significant player in the agricultural industry in India.. “Vaidhehi Ravindran, partner at LightrockIndianoted,“We have followed DeHaat’s progress over the years and are impressed with their rapid growth trajectory combined with a strong network of micro-entrepreneurs. Through innovative social engineering and technological execution, DeHaat has built the largest first mile network for farmers and is well positioned to help transform agriculture by improving farmers’ yields and incomes. “
DeHaat has become India’s largest agro-tech player with its unique and comprehensive approach while connecting all types of agribusiness businesses (input sellers, product buyers, feed manufacturers, financial institutions, food companies, storage) to the farming community. There are over 850 unique agro-industry entities currently active on the platform, which gain last mile access through the DeHaat platform in a transparent and efficient manner. The company closed this round within nine months of the last round and has so far made two strategic acquisitions for inorganic growth. Institutional investors Omnivore Partners and Pi Capital (family fund of the Narrottam Shekhsaria group) who had invested in the first institutional round in 2019 partially exited the current round.
DeHaat is the largest agro-technology company of Indian origin. It uses AI-based technologies to revolutionize the supply chain and production efficiency in the agricultural sector. Feeding a community of over 650,000 farmers, DeHaat offers services ranging from the distribution of high quality agricultural inputs, personalized agricultural advice, access to financial services and market links to sell their products. For more information:www.agrevolution.in
Sofina is a family-controlled European investment company listed on Euronext Brussels (~ AUM $ 12bn). Sofina invests from a pool of permanent capital, both directly as a growth investor and indirectly through venture capital private equity funds. Sofina invests globally and focuses on four key sectors: consumer and retail, digital, healthcare and education. India is an important market for Sofina which has invested in over 20 companies over the past decade.
Lightrock India, formerly Aspada, invests in tomorrow’s industry leaders focused on transformation and technology in themes and sectors with high potential for social impact. With a thematic investment platform approach stemming from the conviction that each company operates not in isolation but through a set of symbiotic relationships with the actors of the value chain of their sector. Lightrock India invests in sectors such as food and agriculture, logistics and mobility, education, health and financial services. The portfolio includes companies such as Vivriti, Aye Finance, Capital Float, Waycool, Porter, Arya, Dunzo, Pharmeasy, Kauvery, Amp energy, Cuemath and Eupheus.
Lightrockis LGT Group’s global impact investing platform that consolidates all of its impact investing activities around the world. Globally, Lightrock invests in companies in Europe, India, Latin America and Africa that pursue scalable, technology-driven business models around three key impact themes that are critical to building a future better: people, planet and productivity. The global portfolio includes Lilium, Dataiku, Messagebird, Neo4j, Infarm and CMR in Europe; DrConsulta, CargoX, Creditas and Konfio in Latin America, and Mkopa and Copia in Africa
For more information, please visitLightrock India website
Temasek is a global investment firm with a net portfolio value of S $ 381 billion (US $ 283 billion) as of March 31, 2021. Based in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines the three roles of Temasek as investor, institution and manager, which shape its ethics to do well, do well and do good. As a provider of catalytic capital, it seeks to enable solutions to key global challenges. With sustainability at the heart of everything Temasek does, it actively seeks sustainable solutions to meet present and future challenges, as it seizes investment opportunities to create a sustainable future for all. For more information on Temasek, please visitwww.temasek.com.sg
About RTP Global:
RTP Global is a venture capital firm with a strong track record in investing in technology. Originally founded as ru-Net in 2000 in Russia, RTP Global has invested in 90 companies founded in more than 10 countries in the United States, Europe, India and Southeast Asia. Five startup investments have grown into multibillion state-owned companies: Yandex, EPAM, Delivery Hero, RingCentral, and Datadog. Recently, RTP closed its $ 650 million fund to invest in technology driven business models around the world and a few of their recent Indian holding companies are Khatabook, Cred.
About Sequoia Capital India:
Sequoia helps bold founders build legendary businesses, from idea to IPO and beyond. Sequoia India operates in South East Asia and India, where we actively partner with founders of a wide range of businesses, across all categories including BYJU, Carousell, Druva, Gojek, OYO Rooms, Tokopedia, Truecaller, Zilingo, Zomato and more.
We encourage the founders to push the limits of what is possible. By partnering with Sequoia, start-ups benefit from 48 years of tribal knowledge and lessons learned working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe from the start.
From the start, nonprofits have been the backbone of our LP base, which means the founders’ accomplishments make a significant difference. The majority of our profits go to great causes, like the Ford Foundation, the Mayo Clinic and MIT. For more information on Sequoia’s work in India and Southeast Asia,visit sequoiacap.com/inde
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a proven track record for 50 years in empowering people to use their skills and improve their quality of life. FMO focuses on three sectors with high impact on development: financial institutions, energy and agribusiness, food and water. With a committed portfolio of 10.4 billion euros covering more than 83 countries, FMO is one of the largest bilateral private sector development banks in the world. For more information, please visitwww.fmo.nl
Omnivore is an India-based venture capital firm that funds entrepreneurs who are building the future of agriculture and food systems. For more information on Omnivore, please visit:http://omnivore.vc
AgFunder is an online venture capital platform that invests in food technology startups globally. For more information on AgFunder, please visit:https://agfunder.com
Prosus SA published this content on October 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 27, 2021 02:27:03 PM UTC.