Agritech platform DeHaat on Tuesday stated it has raised USD 12 million (Rs 83 crore) from merchants, including Sequoia India, for commerce expansion. Based thoroughly thoroughly in Gurgaon and Patna, and essentially based in 2012 by IIT, IIM and NIT alumni, DeHaat is a know-how-essentially essentially based platform offering corpulent-stack agricultural products and providers to farmers, including distribution of excessive-quality Agri inputs, customised farm advisory, safe admission to to financial products and providers, and market linkages for selling their create.
DeHaat has raised USD 12 million (Rs 83 crore) in Series A round led by Sequoia India, with participation from FMO, the Dutch entrepreneurial fashion bank. Quiet merchants Omnivore and AgFunder additionally participated on this round, a firm assertion stated.
The firm earlier raised a USD 4 million (Rs 29 crore) in pre-Series A round in March 2019, led by Omnivore and AgFunder, which used to be topped up in Can also 2019 with an additional USD 3 million (Rs 20 crore) of venture debt from Trifecta Capital.
DeHaat will exercise about a of the unique funding to automate its provide chain and plan the next layer of recordsdata analytics to power further provide chain effectivity, the assertion stated.
The firm plans to scale up to 2,000 rural retail centres for final-mile offer to boot to farm create aggregation and 1 million farmers on the community by 2021.
Shashank Kumar, Co-Founder and CEO of DeHaat stated, “We are infected to accomplice with Sequoia India and FMO as we power in direction of 1,000,000 farmers on the DeHaat platform.
“Sequoia’s deep skills in B2B platforms and know-how merchandise mixed with FMO’s skills in agricultural rate chain financing will abet DeHaat scamper its boost whereas handing over huge impact for the farmers we work with.”
DeHaat is for the time being providing products and providers to over 2,10,000 farmers across Bihar, Uttar Pradesh, Jharkhand and Odisha.
The startup offers farmers with safe admission to to over 3,000 agricultural inputs, mixed with synthetic intelligence-essentially essentially based customised slice advisory tell of pest and disease administration for most most indispensable vegetation delivered via cellular app and make contact with centres.
The platform additionally aggregates corn, wheat, rice, fruits, and greens from farmers on their community and straight away offers to over 200 commodity bulk patrons, including retail chains, e-commerce avid gamers, FMCG giants, and SME meals processors.