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DeHaat nets $115 mn in Series D funding

BENGALURU :

Agritech platform DeHaat has raised $115 million as a part of its Series D round led by Belgium-based Sofina and Lightrock India, besides Temasek.

Existing investors Prosus, RTP Global, Sequoia Capital India and Dutch development bank FMO also participated.

Founded in 2012, DeHaat offers end-to-end agriculture services, including crop advisory, market linkage platform, financial services and products for farming such as feedstuff and fertilizers, to farmers.

The company will use the money to expand its presence, upgrade its technology infrastructure and fund its financial services offerings. It has so far raised nearly $157 million.

“DeHaat is on a mission to build the world’s largest agritech platform. Our team has grown to over 850 professionals with expertise in growth and strategy, supply chain, technology and agricultural science. The last seven months have been phenomenal with five-fold growth. Hence, we are well poised to replicate the success in all major agriculture clusters of India in the next 12-15 months,” said Shashank Kumar, co-founder and chief executive officer, DeHaat.

“We started offering financial services just five months back and look to add touchpoints for farmers. Our focus will be on bringing more relevant services to farmer partners, including animal-related services and crop spraying. DeHaat’s model will continue to be crop-agnostic,” he added.

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