DeHaat, the technology-based platform offering end-to-end agricultural services to farmers in India, has raised $60 million in a new funding round co-led by Sofina Ventures and Temasek, per an announcement.
The Series E round also saw participation from RTP Global Partners, Prosus Ventures, and Lightrock India, the startup said in a statement.
This is DeHaat’s third fundraise in the past two years as it adds a million-plus farmers to its platform, expands its footprint to newer geographies across the globe, and broadens its service offerings.
According to a TechCrunch report, the startup may have attained a valuation of about $700-800 million in the latest round.
“60x growth of DeHaat in the last 40 months has been phenomenal and has laid the foundation for a clear path to profitability. We are very well capitalised at this point of time, and we aim to leverage this status to consolidate our growth towards efficiency and profitability. Hence, we aim to break even in the next 12 months along with 2-2.5x growth on YoY basis,” said Shashank Kumar, Co-founder & CEO, DeHaat.
Founded in 2012 by IIT, IIM & NIT alumni Amrendra Singh, Shyam Sundar Singh, Adarsh Srivastav, and Shashank Kumar, DeHaat offers end-to-end agricultural services to farmers, including distribution of agricultural inputs, personalised farm advisory, access to financial services, and market linkages for selling their produce.
DeHaat is present in more than 110,000 villages across 150+ districts of India through its digitised network of 10,000+ micro entrepreneurs called DeHaat Centers. The startup claims to be currently serving more than 1.5 million farmers located across 11 prominent Indian agricultural states, including Bihar, Uttar Pradesh, Jharkhand, Maharashtra, Madhya Pradesh, Rajasthan, West Bengal, Odisha, Gujarat, Chhattisgarh, and Haryana.
The platform has also onboarded 2,000+ agribusiness institutions, including input manufacturers, FMCG players, banks, insurance partners, and bulk output exporters, offering them direct access to farmers to drive efficiency.
DeHaat has also executed six acquisitions till date, the latest being twin acquisitions YCook India Pvt Ltd and FieldFresh Foods.
Dexter Capital and Vertices Partners were the advisors to this funding round.