The Fund of $115 million from the agritech startup, DeHaat to focus on technology and value-added services in India
DeHaat , one of the fastest-growing start-ups in the agritech sector, today ( October 27) announced that it has established a $115 million fund. This fund is led by Belgium-based investment firms Sofina and Lightrock India. Temasek co-invested in the round, with participation from existing investors Prosus, RTP Global, Sequoia Capital India, and FMO. Dexter Capital and Vertices Partners are the advisors of this funding round.
DeHaat is also a technology-enabled platform offering end-to-end agricultural services to farmers in India. Therefore with the use of this fund, its technological offerings, for value-added services, and people can be expanded.
DeHaat has currently developed a rural retail network of more than 3,000 DeHaat micro-entrepreneurs for last-mile delivery as well as aggregation, serving more than 650,000 farmers located across Bihar, Uttar Pradesh, Jharkhand, and Odisha and also it is going to expand new geographies like Madhya Pradesh and Rajasthan, with a full set of agri-offerings for farmers.
The fund is raised this round within nine months of the last round. In that round, it has completed two strategic acquisitions so far for inorganic growth.