India-based agricultural services platform developer DeHaat received $115m yesterday in a series D round featuring Prosus, the internet group formed by media and e-commerce conglomerate Naspers.
Sofina and Lightrock India co-led the round, which also featured Netherlands-based development bank FMO, Temasek, RTP Global and Sequoia Capital India.
The round is billed as the largest funding round for an agritech startup in India and brings DeHaat’s total funding to at least $161m. It valued the company at about $450m, sources told the Economic Times.
Founded in 2012, DeHaat provides agricultural services to farmers across India through a mobile app that allows them to buy seeds and equipment as well as access potential buyers and necessary information about soil and weather. It boasts a network of 650,000 farmers and 3,000 micro-entrepreneurs.
Prosus also took part in the company’s $30m series C round in January this year, investing alongside media, data and investment firm AgFunder, FMO, RTP Global, Omnivore and Sequoia Capital India.
Details of DeHaat’s series B funding have not been disclosed but Sequoia Capital India led its $12m series A round, in April 2020, which included AgFunder, Omnivore and FMO. The first two had already backed its $4.2m seed round in early 2019.
