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Green Agrevolution Pvt. Ltd, which operates agricultural technology startup DeHaat, has raised $12 million (around Rs 90.75 crore) in a Series A funding round.
Sequoia Capital India led the funding round, where the Dutch development bank FMO, also contributed. Omnivore and AgFunder, the existing investors, also participated in this round, a company statement said.
DeHaat is one of the fastest-growing startups in the Agri Tech sector. It offers end-to-end solutions and services to the farming community in India.
The company is also building AI-enabled technologies to revolutionize supply chain and production efficiency in the farm sector.
The Gurugram and Patna based company, presently has over 165,000 farmers in their service network. It aims to bring it to 5 million farmers by 2024.
Future Plans of DeHaat
Currently, DeHaat is helping thousands of farmers in securing various agri-input products, like seeds and fertilizers. The company also offers a tailored advisory to the farmers on the crop they should sow in a season.
Last year in March, the company raised a $4 million (around Rs 29 crore) in pre-Series A round, led by Omnivore and AgFunder.
"We are excited to partner with Sequoia India and FMO as we drive towards one million farmers on the DeHaat platform” Shashank Kumar, Co-Founder and CEO of DeHaat
The DeHaat platform is aggregating corn, wheat, rice, fruits, and vegetables from farmers on their network. It is also directly supplying to over 200 commodity bulk buyers, including retail chains, e-commerce players, FMCG giants, and SME food processors.
The company has plans to automate its supply chain and build the next layer of data analytics to drive further supply chain efficiency.
To improve its last-mile delivery, DeHaat, is also planning to open 2,000 rural retail centres. At the same time company has plans to upgrade the farm produce aggregation and to add farmers to its service network.
DeHaat
The alumni from IIT Delhi, IIT Kharagpur, IIM Ahmedabad, and alumni from other top institutes founded DeHaat 8 years ago.
Co Founders of DeHaat - Shashank Kumar, Amrendra Singh, Adarsh Srivastav, Shyam Sundar Singh, and Abhishek Dokania,
The company operating from Patna and Gurgaon is now a fully funded startup with a growth rate of 3-4x annually.
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