Bihar-based agritech startup DeHaat is in discussions with a number of investors, including a large global private equity firm, to raise close to $100 million in a Series E round at a pre-money valuation of close to $900 million, according to Inc42.
DeHaat might become the first agritech unicorn in the nation if the funding round raises its post-money valuation to over $1 billion.
Amrendra Singh, Shyam Sundar, Adarsh Srivastav, and Kumar founded DeHaat in 2012 to provide farmers with end-to-end agricultural services, such as the provision of high-quality agri-inputs, individualised farm advisory, access to financial services, and market connections for the sale of their produce.
The money will enable the Ninjacart-backed agritech business to outperform Sequoia-backed startup’s value. India’s agritech market is anticipated to grow to $24.1 billion by 2025, according to Inc42.
The company has developed a rural retail network of more than 3,000 DeHaat micro-entrepreneurs for last-mile delivery. It is said to provide services to more than 650,000 farmers in Bihar, UP, Jharkhand, and Odisha.
Founded by the alumni from IIT Delhi, IIT Kharagpur, IIM Ahmedabad and other top institutes – DeHaat is now a fully funded start-up with a growth rate of 3-4x annually. The impact we have created at grass root level over the last 8 years of our operations has been phenomenal, as recognized and felicitated by NASSCOM, Forbes, ET, Niti Aayog, and Bill Gates Foundation, and many more.