Breaking NewsIndian Beehive

DeHaat scores $30 Mn in Series C round

Gurugram: DeHaat, an online marketplace for farm services and products, has raised $30 million in its Series C round led by Prosus Ventures (previously Naspers). RTP Global and existing investors Sequoia Capital India, FMO, Omnivore, and AgFunder also participated in the round.

According to DeHaat, the fresh proceeds will be used for network expansion to different states such as Rajasthan, Madhya Pradesh, and Maharashtra, and to strengthen its technology.

Founded by Shashank Kumar, DeHaat provides end-to-end services like high-quality segment-specific inputs, customized advising, financial services, and market linkages to farmers for the sale of their produce.

DeHaat connects farmers with institutional partners to provide the working capital and at the end of the season and helps them sell their yields to bulk buyers such as Reliance Fresh, Zomato, and Udaan, among others. It also provides customized crop advisory content of pest and disease management for major crops delivered through a mobile app and call centers.

The company claims to have registered 3.5x annual growth over the past two years and has served close to 400,000 farmers across Bihar, UP, Jharkhand, West Bengal, and Odisha.

Source
ENTRACKR

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