India: Rural tech startup Hesa raises $2 million in seed round

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India-based rural tech startup Hesa has raised $2 million as part of its seed funding round led by Venture Catalysts. Startup accelerator fund, 9Unicorns, also took part in the same.

“The fund-raising is a great validation that Hesa’s model resonates with so many. I look forward to every Indian village being powered by our innovative model as we work towards realising our vision to be rural India’s largest integrated marketplace that enables ease of commerce and enables livelihoods at scale,” said Vamsi Udayagiri, founder and chief executive, Hesa.

Set up in 2019, the startup enables local brands and businesses to come together as a community, empowering businesses to transact with their customer base across rural regions in the South Asian country.

Starting its operations from April 2020, the startup claims to have accrued gross revenue of about $4 million so far, while observing a 65% retention rate.

Notably, the tech-led startup has already connected over 60 brands to more than 0.6 million rural customers through its extensive network.