DeHaat, which is a Gurgaon based online marketplace for the farm products and services has now secured $4 Million in the pre-series A funding round from US-based Investor AgFunder, Omnivore Ventures.
The company as of now has a plans to use the capital to expand its network for the farmers in Uttar Pradesh, Bihar and Odisha and to launch the farm credit and crop insurance services by the end of this year.
Dexter Capital was the adviser for the DeHaat in this funding round. The platform offers the end to end agricultural services in farmers, which includes distribution of high-quality agri-inputs, access to financial services, customizes farm advisory services and market linkages for the farmers to sell their produce.
DeHaat has also claimed to bring efficiency and transparency across the agricultural value chain for the business to farmer’s partners, which includes the financial institutions, agri-input companies, and commodity bulk buyers.
The company was founded by the Shashank Kumar, Amrendra Singh and Shyam Sundar in 2012, who all are the Alumni of IIT.it currently ptovides the support to more than 60000 farmers across the Odisha, UP and Bihar.
“We have built a scalable business model and data-driven technology platform to enable large stakeholders (including agri input companies, financial institutions, and commodity bulk buyers) to transact with our farmers efficiently. Our goal is to reach 1 million happy farmers on the platform in the near future,” said Kumar in the statement.
Picture Credits: DeHaat