• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 25, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home India News

Less Than a Year After a Significant Fundraising Effort, Agritech Startup DeHaat Announced Job Cuts.

by NIsha Jain
August 1, 2022
in India News, Markets, Startups
Reading Time: 1 min read
0
Less Than a Year After a Significant Fundraising Effort, Agritech Startup DeHaat Announced Job Cuts.
TwitterWhatsappLinkedin

Less than a year after raising $115 million in what was the largest fundraising round for an Indian agricultural tech startup, agritech startup DeHaat has become the latest startup to resort to layoffs.

You might also like

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

Moneycontrol was informed by a source that 500 employees had been fired; however, founder and CEO Shashank Kumar disputes this figure.

In a virtual conversation with Moneycontrol on August 1, Kumar acknowledged that the business had let some employees go, but the total number of affected employees was not high.

“The estimated number of layoffs is off. Layoffs were more of remedial action in response to poor performance and cultural incompatibilities, but the total number was absolutely not three.

Tech Layoffs On The Rise As Uncertainty Hits Jobs Market Across Globe
CNBC TV 18

The company claims that it employs more than 2,000 people. According to Kumar, the organization hired more than 1,200 to 1,300 individuals in the previous 14 to 15 months.

DeHaat is a technology-based platform with offices in Gurugram, Haryana, and Patna, Bihar, that provides farmers with end-to-end agricultural services.

Sequoia Capital India, Sofina, Light rock, and Temasek are among of the company’s investors. It was founded in 2012 by alumni from the IIT, IIM, and NIT, including Kumar, Amrendra Singh, Shyam Sundar, and Adarsh Srivastav.

After the final investment round in October 2021, it joined the soonicorn or “soon-to-be-unicorn” club with a valuation of more than $500 million.

A startup with a valuation of $1 billion or more is considered a unicorn. Since its founding, the company has raised about $161 million. Also read: How laid-off startup employees are coping: Shattered Dreams, Humiliation, Fight For Survival

DeHaat saw its losses triple year over year even while its revenue from operations increased by a factor of two, according to a report published by Inc42 in February.

By March 2024, profitability was the company’s goal rather than a change in growth strategy, according to Kumar.

Tags: Layoffs
Tweet54SendShare15
Previous Post

Hyundai Motor considering to increase its stake in autonomous mobility platform

Next Post

LRMR Ventures and SC Holdings Make Strategic Investments in Canyon Bicycles.

NIsha Jain

Recommended For You

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

by Harikrishnan A
June 25, 2025
0
Microsoft’s Copilot+ Faces Scrutiny Over New Recall Feature

Microsoft is preparing to launch another wave of layoffs, with its Xbox gaming division expected to bear the brunt of the cuts. The move is part of a...

Read more

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

by Harikrishnan A
June 25, 2025
0
Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

In a ruling that has stunned both legal experts and digital rights advocates, a Greek court has sentenced a 59-year-old man from Piraeus to five years in prison...

Read more

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

by Harikrishnan A
June 25, 2025
0
Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

Tesla's long-awaited Robotaxi rollout in Austin, Texas, turned heads this week—not just for its technical innovation but also for moments of troubling behavior on the road. Videos captured...

Read more
Next Post
LRMR Ventures and SC Holdings Make Strategic Investments in Canyon Bicycles.

LRMR Ventures and SC Holdings Make Strategic Investments in Canyon Bicycles.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?