PATNA, 8 April 2020: DeHaat, an online marketplace for farm services and products has raised INR 90 crore (USD $12 million) in a Series A funding round led by Sequoia Capital India.
In this round, Dutch entrepreneurial development bank FMO along with existing investors Omnivore and AgFunder also participated.
The company which is under operations for the last eight years have raised INR (USD $4 million) in March 2019 in pre- Series A round led by Omnivore Ventures.
The company has so far managed to raise $16 million in equity and $3 million in venture debt.
The company is looking to used the funds to expands its rural network beyond 2000 centers, with a mission to connect micro-entrepreneurs for last-mile delivery and cater to 1 million farmers by June next year.
According to a business daily, the company is also working towards automating its supply chain and developing more sophisticated data analytics.
At present, DeHaat is operational in eastern India – Bihar, UP and Odisha, serving over 168,000 farmers in their service network, 280 DeHaat centers, and 250 corporate buyers.
With a working strength of 242 personal, the startup helps connect farmers with 200 institutional partners to provide them with working capital and at the end of the season, helps them sell their yields to bulk buyers such as Reliance Fresh, Zomato and Udaan among others.
Founded by Shashank Kumar, DeHaat provides end-to-end services like high-quality segment-specific inputs, customised advising, financial services and market linkages to farmers for the sale of their produce.
