Gurugram and Patna-based agritech platform DeHaat has raised Series A funding of $12 million led by Sequoia Capital. The round saw participation from FMO, the Dutch entrepreneurial development bank, and existing investors Omnivore and AgFunder.
The platform will use some of the new funding to automate its supply chain and build the next layer of data analytics to drive further supply chain efficiency.
Founded in 2012 by IIT, IIM, and NIT alumni Shashank Kumar, Amrendra Singh, Adarsh Srivastav, Shyam Sundar Singh, and Abhishek Dokania, DeHaat is a technology-based platform offering full-stack agricultural services to farmers, including distribution of high quality agri inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.
The team sais its annual revenue has grown by 3.5x since March last year. The team plans to scale up to 2,000 rural retail centres for last-mile delivery and produce aggregation, and bring one million farmers on the network by 2021.
The platform also aggregates corn, wheat, rice, fruits, and vegetables from farmers on their network, and directly supplies to over 200 commodity bulk buyers, including retail chains, e-commerce players, FMCG giants, and SME food processors.