People Digest: Elevation appoints VP; Bertelsmann promotes Rohit Sood to partner
Photo: Reuters Premium
Elevation Capital (formerly SAIF Partners) Tuesday said it has appointed Amit Aggarwal as vice president. Separately, Bertelsmann India Investments (BII) has promoted Rohit Sood to partner position from principal.
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DeHaat to expand operations to MP, Rajasthan
January 19, 2021
Plans to beef up tech platform with $30 m raised from Prosus Ventures
Agritech services firm DeHaat, which mainly operates in Bihar, Jharkhand, Uttar Pradesh, and Odisha, proposes to expand its operations to Madhya Pradesh and Rajasthan utilising the latest funding of $30 million raised from investors led by Prosus Ventures.
RTP Global co-invested in the DeHaat’s C Series funding with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder. Prior to this round, DeHaat had raised a total of $16 million.
About 4 lakh farmers are using DeHaat’s technology platform to buy inputs such as fertilisers and seeds, sell their produce and also seek crop advisory and financial services, said co-founder and CEO, Shashank Kumar.
Prosus Ventures leads $30 million investment in Indian agritech startup DeHaat
Once overlooked, agritech startups are beginning to have a moment in India.
On Tuesday, DeHaat, an online platform that offers full-stack agricultural services to farmers, said it has raised $30 million in a new financing round as the Indian firm looks to maintain its accelerated growth despite the pandemic.
Prosus Ventures, formerly known as Naspers Ventures, led Patna and Gurgaon-based startup’s Series C financing round. RTP Global and existing investors Sequoia Capital India, FMO, Omnivore and AgFunder also participated, bringing the startup’s to-date raise to over $46 million. (Dexter Capital was the advisor for this funding round.)
[Funding alert] DeHaat raises $30M Series C investment led by Prosus Ventures, RTP Global
Full-stack agritech platform DeHaat said the funding will be used for network expansion to different geographies and to strengthen its technology.
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Patna and Gurugram-based agritech platform DeHaat has raised $30 million in Series C funding led by Prosus Ventures (previously Naspers). The round also saw participation from existing investors Sequoia Capital India, FMO, Omnivore, and AgFunder. Dexter Capital was the exclusive advisor of this funding round.
With an aim to aggregate 10 million Indian farmers while helping them to also increase their profitability, the platform integrates a digital marketplace with a rural network of last-mile service delivery centers and connects various agricultural companies with farmers.
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