DeHaat, India's homegrown full-stack agritech platform raises US$115 million

DeHaat, India's largest agritech platform offering end-to-end agricultural services to farmers, announced on October 26 that it has raised US $115 million in Series D funding, led by Belgium-based investment firm Sofina and Lightrock India. Temasek co-invested in the round with participation from existing investors Prosus, RTP Global, Sequoia Capital India and FMO. Dexter Capital and Vertices Partners were the advisors of this funding round.

Shashank Kumar, Co-Founder & CEO, DeHaat said, "At DeHaat, we are on a mission of building the world's largest Agritech platform. 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. Last 7 months have been phenomenal with 5X growth for DeHaat. We are now well positioned to replicate the success in all major agriculture clusters of India in next 12-15 months."

Founded in 2012 by IIT, IIM & NIT alumni Shyam Sundar Singh, Amrendra Singh, Adarsh Srivastav & Shashank Kumar, DeHaat runs Business to Farmers (B2F) platform that offers full-stack agricultural services to farmers through its digitized network of 650,000 farmers, 3,000 plus micro-entrepreneurs for last-mile delivery and aggregation. DeHaat intends to drive efficiency and transparency in this US$ 350 bn industry.

Yana Kachurina, Principal, Sofina, said, "Through our due diligence, we became convinced that DeHaat is bringing substantial value-add to the farming community in India. The uniqueness of its full-stack approach combined with 'phygital' go-to-market strategy further reaffirmed our view that the company is on track to become a significant player in the farming industry in India."

Vaidhehi Ravindran, Partner, Lightrock India, 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."