Chhavideep Singh
Source: DeHaat
Dehaat is a Bihar-based online platform for farm products and services. The start-up has recently announced to have acquired a 100% stake in Gurugram-based agriculture technology start-up, FarmGuide that intends to create symmetry in the unorganized agricultural industry of India through its data analytics and ICT techniques.
Founded back in the year 2012 by Amrendra Singh and Shashank Kumar, DeHaat leverages technology to offer end-to-end agricultural services to farmers with a simple aim to provide efficiency of the Indian agriculture value chain and enhancement in the income of farmers.
DeHaat is known to bridge small scale farmers with India’s trained micro-entrepreneurs to fulfil their basic needs of agricultural inputs such as seeds, equipment, fertilizers and market linkages according to the company profile on Crunchbase. Farmers registered with the company can get access to all agricultural inputs provided by DeHaat directly from competitive sources.
As mentioned in a report by VCCircle, Shashank Kumar, co-founder, DeHaat says that FarmGuide’s data science and spatial technology will integrate well with the acquirer company i.e., DeHaat.
On the other hand, FarmGuide was founded back in 2016 by Nikhil Toshniwal who created this start-up with an intention to bring symmetry in the agricultural sector of India which is more or less considered as an organized sector. The company’s data analytics and ICT techniques are helping farmers to digitize their farms with agricultural insights. As mentioned in the company profile by Crunchbase, FarmGuide also provides dashboard subscription to agricultural input companies, insurers, bankers and others for real-time farm health.
Furthermore, DeHaat recently on January 19th, 2021 announced that it had raised USD 30 million in its latest Series C financing round led by South Africa-based Venture Capital firm, Prosus Ventures.
According to several reports, existing investors including RTP Global, Omnivore, FMO and AgFunder also participated in the company’s funding round.
DeHaat has till date raised total funding worth USD 49.3 million in over 5 financing rounds and according to Crunchbase, FarmGuide is known to have raised total funding worth USD 1.8 million in over 4 funding rounds.
Prior to this, in 2019 March, DeHaat had successfully raised USD 4 million which loosely translate to INR 27.5 crore in its pre-Series A funding round which was reportedly led by AgFunder and Omnivore, according to a report by VCCircle.
On the other hand, FarmGuide is known to have only three investors namely, Jaipur-based Radiant Haroti, New Delhi-based Indigram Labs and Vaidaangi.