Technology Today

DeHaat, an online platform that offers full-stack agricultural services to farmers, has raised $12 million as it looks to scale its network across India. The Series A financial round for the eight-year-old Patna and Gurgaon-based startup was led by Sequoia Capital India.

Dutch entrepreneurial development bank FMO, and existing investors Omnivore and AgFunder, also participated in the round.

The startup, which began to seek funding from external investors last year, has raised $16 million to date and $3 million in venture debt. DeHaat (which means village in Hindi) eases the burden on farmers by bringing together brands, institutional financers and buyers on one platform, explained Shashank Kumar, co-founder and chief executive of the startup, in an interview with TechCrunch. The platform helps farmers secure thousands of agri-input products, including seeds and fertilizers, and receive tailored advisory on the crop they should sow in a season.

&We have built a comprehensive database of crop tests to offer advice to farmers,& he said. DeHaat, which employs 242 people, also helps them connect with 200 institutional partners to provide farmers with working capital, and when the season is over, helps them sell their yields to bulk buyers such as Reliance Fresh, food delivery startup Zomato and business-to-business e-commerce giant Udaan. DeHaat today operates in 20 regional hubs in the eastern part of India — states such as Bihar, Uttar Pradesh, and Jharkhand — and serves more than 210,000 farmers, said Kumar. Shashank Kumar, Amrendra Singh, Adarsh Srivastav and Shyam Sundar Singh co-founded DeHaat in 2012 The startup has developed a network of hundreds of micro-entrepreneurs in rural areas that distribute agri-input goods to farmers from their regional hubs and then bring back the output to the same hub. &We have an app in local languages and a helpline desk that farmers, many of whom don&t own a smartphone, use to reach out to us and explain their pain points and needs,& he said. DeHaat does not charge any fee for its advisory, but takes a cut whenever farmers use its platform to buy agri-inputs or sell their crop yields. The startup will use the fresh capital to extend its network to 2,000 rural retail centres, on-board more micro-entrepreneurs for last-mile delivery and reach 1 million farmers by June of next year, said Kumar.

DeHaat is also working on automating its supply chain and developing more sophisticated data analytics, he said. At stake is India agriculture market that is worth $350 billion and serves nearly 100 million small and independent farmers, said Abhishek Mohan, VP at Sequoia Capital India, the VC fund that writes more checks than anyone else in the country. &This industry is on the brink of a massive transformation thanks to ease of regulation, farmers getting organized and increasing penetration of smartphones.

DeHaat is leveraging these trends to build the next-gen product in agricultural supply chain,& said Mohan in a statement. &The tipping point that led to Sequoia India decision to partner with them was the field visit, where the farmers expressed how proud they were to be associated with a platform they felt truly worked in their favour.

This impact and deep brand loyalty stems from the leadership team razor-sharp focus, deep empathy and fine execution,& he added.





Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021


Buy Our Merchandise (Peace Series)

 


Contribute US to Start Broadcasting



It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm


STRIPE


I attempted a Sky TV competitor that's completely free and it's pertaining to UK homes soon


Your LG TV just got a blockbuster upgrade that offers more channels for free


Motorola's Razr 40 which rivals Samsung's foldable ZFlip5 has £300 off this week


Do you think TikTok should be banned Vote in our poll and have your say


BT and Sky users must check their postcode now - huge broadband upgrade confirmed


Apple will launch something new next month - exact date and time you need to know


'Terrifying' Apple iPhone feature could save your life - but hardly anyone knows it exists


UK's 'best' broadband exposed and the result will shock you - is it time to change


TalkTalk will provide you a totally free ? 55 Echo Dot when you upgrade your broadband


Argos consumers dash to get Samsung 4K TVs at 'most affordable ever' cost - don't lose out


Forget your phone, 4K TV and earbuds - Sony will release a hot new UK gadget


Bag Motorola's brand-new budget phone with little-known offer that comes with complimentary £& pound; 129 earphones


WiFi router positioning mistake could be slowing down your internet, says specialist


UK Gmail and Yahoo users placed on email red alert - getting 'caught out' will be pricey


Your Samsung TV is about to look inferior - something new comes to the UK this week


Upgrade your TV and you'll get a Nintendo Switch or £& pound; 200 totally free, here's how to bag the offer


Microsoft employer unveils essential task interview question which is 'make or break'


Disconnect your TV, laptop computer and mobile phone tonight, cautioning issued to all UK homes


Examine your Galaxy phone now - Samsung verifies a wise totally free upgrade is coming soon


Get Fallout 3, 76 and New Vegas free with Amazon Prime Gaming offer


UK's 'worst' mobile networks verified - is your phone service provider bottom of the list


Ditch your Fire television Stick today and get supreme upgrade without paying full cost


Sky releases 'lowest cost' iPhone 15 Pro Max sale, but it includes a catch


Enormous complimentary Sky TV upgrade confirmed that may lastly persuade you to ditch your meal


UK's 'worst' broadband verified - is your provider top or bottom of the list


Budding songwriters can join substantial multi-national jamming session - and relayed around the world


WhatsApp backtracks after users left 'freaking out' over subtle change to app


Time to update your Samsung Galaxy phone Essential test discovers big factor to switch





54