DeHaat raises $60 Mn in Series E; eyes breakeven in next 12 months
                     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.
The company has already received around $46 million as a part of the Series E round. Entrackr 
had exclusively reported about the fundraise in October. This is DeHaat’s third fundraise in the 
past two years. The Patna and Gurugram-based company closed a $115 million Series D round 
in October last year. As per the company, 70% of the last raise is still left in its account.
Ten-year-old DeHaat offers end-to-end agricultural services to farmers, including distribution of 
high-quality  agricultural  inputs,  personalized  farm  advisory,  access  to  financial  services,  
and market linkages for selling their produce. The company claims that it currently built a last-
mile supply chain in more than 110,000 villages across 150 districts of India through its 
network of more than 10,000 micro entrepreneurs for last-mile delivery as well as aggregation.
The firm currently serves more than 1.5 million farmers located across 11 states including 
Bihar, Uttar  Pradesh,  Jharkhand,  Maharashtra,  Madhya  Pradesh,  Rajasthan,  West  Bengal,  
Odisha, Gujarat, Chhattisgarh, and Haryana.
According  to  the  company,  it  has  also  onboarded  more  than  2,000  agribusiness  
institutions including  input  manufacturers,  FMCG  players,  banks,  insurance  partners,  and  
bulk  output exporters, offering them direct access to farmers.
Besides back-to-back fundraising, DeHaat has acquired around half a dozen startups, the latest 
being YCook India and FieldFresh Foods.
For  the fiscal  year  2021-22  (FY22), DeHaat’s  scale  soared 3.6X to Rs 1,274  crore,  as per 
the annual financial statement with the Registrar of Companies. As per Fintrackr’s analysis, the 
sale of agricultural inputs accounted for 99% of its total revenue. The firm’s losses also spiked 
to Rs 164 crore in FY22 as compared to Rs 54 crore in FY21.
The company aims to break even in the next 12 months along with 2-2.5X growth on a Y-o-Y 
basis.
Revenue wise, DeHaat is on top among agritech startups while Ninjacart missed the Rs 1,000 
crore  revenue  mark  by  a  small  margin.  Waycool  claims  to  have  recorded  Rs  1,008  crore  
in revenue in FY22. In terms of valuation, Ninjacart is valued at $815 million while Waycool 
was last valued at $700 million. DeHaat is estimated to be valued at around $700-800 million, 
as per Fintrackr’s estimates.
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