FY23 revenue set to rise by over INR 2,300 crore
GURUGRAM: 10 March 2023: DeHaat, India’s largest full stack AgriTech platform offering end-to-end agricultural services to farmers in India, today announced it has successfully onboarded more than 500 Farmer Producer Organizations (FPOs) across 12 Indian states, directly impacting livelihood of over 30,000 associated member farmers.
Currently, 503 FPOs are actively engaged with DeHaat through its full stack agri value chain offerings. DeHaat recently raises US $60 million in Series E round co-led by Sofina, Temasek.
The announcement comes at a time when the Indian government has outlined plans in the Union Budget to form and promote 10,000+ FPOs across country & expand digital technologies to boost the country’s agricultural sector, including doubling down on its efforts to enable agritech startups to drive farmer centric solutions through initiation of Agricultural Accelerator Fund, and creation of Digital Public Infrastructure for the sector. Being a market leader in AgriTech, DeHaat has its strong association with FPO related nodal agencies like SFAC & NABARD.
Commenting on the milestone, Shashank Kumar, Co-founder & CEO, DeHaat said ‘DeHaat's affiliation with 503 FPOs in 12 states aligns with our 'Farmer's First' vision of putting farmers first in all we do. Our tech enabled 360-degree agri value chain interventions have resulted in 50-70% income enhancement for the associated farmers & at the same time have enabled FPOs to get complete institutional support for their overall sustainability.’
DeHaat, a business-to-farmers (B2F) platform offers end-to-end agricultural services to over 1.8Mn farmers through an expansive network of 11,000+ DeHaat Centers across 12 prominent Indian agricultural states. DeHaat’s association with FPOs has enabled seamless access of 360 degree agricultural offerings throughout the crop life cycle including personalized transfer of critical knowledge to farmers, last mile availability of high quality input products, increased adoption of digital capabilities, smooth access to credit & insurance and ease of market access, driving enhanced yields and better price realization for over 30,000 farmers.
Shashi Bhushan, Director, Agrimeo Nalanda Kisan Producer Company Ltd, an independent FPO based in Bihar with a member base of 700 farmers said ‘We started our association with DeHaat 8 months ago and are extremely satisfied with the way our relationship has grown. Our limited agri input demand & farm produce scale prevented us from reaching out to competitive channels resulting in us not being able to offer complete set of agri services to our member farmers. DeHaat gave us access to best source of agri input as well as much better farm gate price of Paddy for our FPO. Besides, we get complete logistic support for input delivery at our centre as well as aggregation of the agri produce. We are also in discussion to activate financial services through the DeHaat platform. In last 8 months, we could provide overall agri value chain services worth INR 71 Lakhs to our member farmers through association across input & output verticals and we are confident to grow our business to INR 1.5 Cr in FY 2023-24.’