Bihar’s AgriTech start-up DeHaat gets 20 crore funding. Will launch 650 new centres

DeHaat, a startup working for agricultural solutions in Bihar gets a big financial boost. Trifecta capital, India’s first venture debt fund, which helps in growing unique businesses of the country to make them meet the initial needs, is going to provide venture debt of Rs 20 crore to DeHaat– the one-stop solution for farmers. The funds will be drawn over the next 12 months.

The Bihar based start-up, DeHaat has been working for last 7 years, connecting the small farmers of the state and the country through an online platform with a network of micro-entrepreneurs. The micro-entrepreneurs are in-charge of supplying needful inputs like seeds, fertilizers, irrigation and other equipment to the farmers. They even offer crop advisory and market linkages to sell the yield production.

[divider]Also Read- Meet Shashank Kumar From Bihar Who Is Turning Agriculture Into A Profitable Business For The Farming Community[/divider]

DeHaat is a startup  founded by bunch of IIT-IIM Alumni  Shashank Kumar, Amrendra Singh, Shyam Sundar, Adarsh Srivastav and Abhishek Dokania. It has been funded with the amount of $4 million in equity by Omnivore and Agfunder. The DeHaat model is spread over Bihar, UP and Orissa. The fund by Trifecta is not just an opportunity to grow business but a complete future plan to improve the agricultural status of the state with more Dehaat centres.

“Now this time, the new fund is a goal to achieve few milestones till March 2020. DeHaat is looking forward to covering 300,000 farmers across the states which are 100,000 in number presently. We put a DeHaat centre in the villages where we work. Today we have 162 villages covered in Bihar and UP; we are targeting total 650 by March 2020. The fund utilization plan is to improve, expand and develop,” says the Co-Founder, Shashank Kumar.

The local youth and farmers are involved in running DeHaat centres, so the expansion of these centres can generate employment for a good number of people in rural areas. Presently there are 9 warehouses that process the final productivity of the farmers that are aimed to reach 21 by the targeted time period.

The current work of DeHaat is to be a one-stop solution to the farmers providing them with three major services – agricultural input, crop advisory and market linkage for farm produce. Farmers can place orders through the DeHaat helpline, the mobile app, or a physical centre. Orders are then sent forward to DeHaat’s micro-entrepreneurs and fulfilled the same day. The value-added services to the farmers in coming months can be insurance facility, credits, and machinery.

Patnabeats wishes the team good luck for their aspired goal. Hope the fund brings some positive change in the agricultural sector of the state.

Do you like the article? Or have an interesting story to share? Please write to us at [email protected], or connect with us on Facebook, Instagram and Twitter and subscribe us on Youtube.

Quote of the day: “Reading Is To The Mind, As Exercise Is To The Body.” – Brian Tracy

Also Watch :