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DeHaat raises $60 Mn in Series E; eyes breakeven in next 12 months

Full-stack agritech platform DeHaat has scooped $60 million in a Series E round co-led by Temasek and Sofina Ventures. Existing investors such as RTP Global, Prosus Ventures, and Lightrock also participated in the financing round.<br><br>Visit - https://entrackr.com/2022/12/dehaat-raises-60-mn-in-series-e-eyes-breakeven-in-next-12-months

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DeHaat raises $60 Mn in Series E; eyes breakeven in next 12 months

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  1. DeHaat Raises$60MninSeriesE;EyesBreakevenin Next12Months Full-stackagritechplatformDeHaathasscooped$60millioninaSeriesEroundco-ledbyTemasekandSofinaVentures.ExistinginvestorssuchasRTPGlobal,ProsusVentures,andLightrockalsoparticipatedinthefinancinground. Thecompanyhasalreadyreceivedaround$46millionasapartoftheSeriesEround.EntrackrhadexclusivelyreportedaboutthefundraiseinOctober.ThisisDeHaat’sthirdfundraiseinthepasttwoyears.ThePatnaandGurugram-basedcompanycloseda$115millionSeriesDroundinOctoberlastyear.Asperthecompany,70%ofthelastraiseisstillleftinitsaccount. Ten-year-oldDeHaatoffersend-to-endagriculturalservicestofarmers,includingdistributionofhigh-qualityagriculturalinputs,personalizedfarmadvisory,accesstofinancialservices,andmarketlinkagesforsellingtheirproduce.Thecompanyclaimsthatitcurrentlybuiltalast-milesupplychaininmorethan110,000villagesacross150districtsofIndiathroughitsnetworkofmorethan10,000microentrepreneursforlast-miledeliveryaswellasaggregation.

  2. Thefirmcurrentlyservesmorethan1.5millionfarmerslocatedacross11statesincludingBihar,UttarPradesh,Jharkhand,Maharashtra,MadhyaPradesh,Rajasthan,WestBengal,Odisha,Gujarat,Chhattisgarh,andHaryana.Thefirmcurrentlyservesmorethan1.5millionfarmerslocatedacross11statesincludingBihar,UttarPradesh,Jharkhand,Maharashtra,MadhyaPradesh,Rajasthan,WestBengal,Odisha,Gujarat,Chhattisgarh,andHaryana. Accordingtothecompany,ithasalsoonboardedmorethan2,000agribusinessinstitutionsincludinginputmanufacturers,FMCGplayers,banks,insurancepartners,andbulkoutputexporters,offeringthemdirectaccesstofarmers. Besidesback-to-backfundraising,DeHaathasacquiredaroundhalfadozenstartups,thelatestbeingYCookIndiaandFieldFreshFoods. Forthefiscalyear2021-22(FY22),DeHaat’sscalesoared3.6XtoRs1,274crore,aspertheannualfinancialstatementwiththeRegistrarofCompanies.AsperFintrackr’sanalysis,thesaleofagriculturalinputsaccountedfor99%ofitstotalrevenue.Thefirm’slossesalsospikedtoRs164croreinFY22ascomparedtoRs54croreinFY21. Thecompanyaimstobreakeveninthenext12monthsalongwith2-2.5XgrowthonaY-o-Ybasis. Revenuewise,DeHaatisontopamongagritechstartupswhileNinjacartmissedtheRs1,000crorerevenuemarkbyasmallmargin.WaycoolclaimstohaverecordedRs1,008croreinrevenueinFY22.Intermsofvaluation,Ninjacartisvaluedat$815millionwhileWaycoolwaslastvaluedat$700million.DeHaatisestimatedtobevaluedataround$700-800million,asperFintrackr’sestimates. Togetdailystartupnews,latesttechnews,upcomingstartupnewssubscribetoEntrackr’snewsletter.

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