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Friday, June 21, 2024

DeHaat to further grow its agritech platform after $46M funding round

Agritech startup DeHaat has secured funding of around $46 million. Sofina Ventures led the Series E funding round.

DeHaat, an agritech platform, has raised approximately $46 million in a Series E funding round led by Sofina Ventures. RTP Global Partners, Prosus, and Lightrock India are among the other investors in the round.

Following the transaction, Sofina Ventures will own 11.73% of the startup, while Naspers, RTP Global, and Lightrock India will own 11.04%, 5.22%, and 6.43%, respectively.

DeHaat, which was founded in 2012, provides farmers with end-to-end agriculture services such as crop advisory, a market linkage platform, financial services, and farming products such as feedstuff and fertilizers.

In October of last year, DeHaat raised $115 million in a Series D round led by Belgium-based Sofina and Lightrock India, in addition to Temasek.

DeHaat is a platform that provides farmers with customized inputs, advice, financial services, and market access. It connects farmers with third-party lenders, such as Reliance Fresh, Zomato, and Udaan, to obtain working capital and sell in bulk. Over three lakh farmers are currently employed in Bihar, Uttar Pradesh, Odisha, and West Bengal.

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