DeHaat, which is a Patna and Gurugram based agritech platform, has now secured $12 million in the Series A funding round led by the Sequoia Capital.
The round also saw participation from the FMO, the Dutch entrepreneurial development bank, and some of the existing investors AgrFunder and Omnivore.
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 chain efficiency.
DeHaat has previously secured $4 million in the Pre Series A in the month of March 2019 led by the AgFunder and Omnivore, which was topped up in the month of May 2019 with an additional $3 million of venture debt from the Trifecta Capital.
Shashank Kumar, Co-Founder and CEO of DeHaat, said:
“We are excited to partner with Sequoia India and FMO as we drive towards one million farmers on the DeHaat platform. Sequoia’s deep expertise in B2B platforms and technology products, combined with FMO’s expertise in agricultural value chain financing, will help DeHaat accelerate its growth while delivering massive impact for the farmers we work with.”
Jaap Reinking, Director, Private Equity at FMO, said: “Increasing economic uncertainty due to the COVID-19 pandemic is a grave concern to all. Especially in these challenging times, it is important to continue our support for innovative businesses in emerging markets, and focus on accelerating sustainable development. That is why we are proud to announce our partnership with DeHaat through the FMO Ventures Program. We look forward to supporting this Indian agri-tech platform with our expertise in agricultural value chain financing and rural development programmes.”