DeHaat, an online commercial center for ranch administrations and items, has gathered up $115 million in what appears to be the largest funding round for an agritech startup in India. The organization’s Series D round was driven by Belgium based investment firm Sofina and Lightrock India.
Temasek co-invested in the round, with interest from existing investors Prosus Ventures, RTP Global, Sequoia Capital India and FMO. The Patna and Gurugram-based startup had recently brought $30 million up in its Series C round in January this year.
According to Entrackr’s sources, DeHaat has raised the new round at more than $500 million valuation.
DeHaat gives customized inputs, advising, financial administrations and market linkages to farmers for appropriation. Critically, it likewise interfaces farmers with outsider lenders for their working capital and huge endeavors like Reliance Fresh, Zomato and Udaan for mass selling.
As of now, it’s functional in Bihar, Uttar Pradesh, Odisha, and West Bengal with 350,000 farmers and expects to bring its administrations to 5 million farmers by 2024.
Recently, DeHaat had gained SaaS-based stage Farm Guide to give satellite-based insights and warning to farmers. According to the organization’s press articulation, it has recorded a 5X development over the most recent seven months and tries to continue comparative development force in the following 18 two years.
While DeHaat didn’t share any income figures, it recorded operating income of Rs 125.18 crore in FY20 when contrasted with Rs 42.46 crore FY19. According to its last revealed yearly financial report, the organization had enrolled a total use of Rs 143.40 crore in FY20 which stood at Rs 45.63 crore in FY19.
The organization incurred a 7X leap in its misfortunes to Rs 18.15 crore in the financial year ending March 2020 from Rs 2.55 crore in the preceding monetary.
Other than DeHaat, Nijacart’s $90 million Series C round and Waycool’s potential $50 million or more rounds are second and to be the third-largest raise support in the agritech space. Entrackr had only announced Waycool’s latent capacity round on October 13.
Ninjacart is esteemed at $500 million while Waycool’s valuation stood at $335 million in its last financing tranche.
