Startups

DeHaat: Agritech platform DeHaat acquires SaaS startup FarmGuide

Read more at economictimes.indiatimes.com

New Delhi: Agritech platform DeHaat has completed a cash and stock deal to acquire FarmGuide a B2B software as a service (SaaS) platform for an undisclosed sum. This comes after DeHaat raised $30 million (Rs 222 crore) in a Series-C round early this year.

FarmGuide, the five-year-old Gurgaon based company, specialised in spatial technology and data science which merged with existing digital tech and physical platform of DeHaat will build a full stack platform for agribusiness, said Shashank Kumar, co-founder and CEO, DeHaat.

The founding team of FarmGuide which had raised Rs 14 crore in the last four year through angel rounds will now be a part of DeHaat. Its database and tech platforms will be integrated with DeHaat full stack technology, said the company.

Shyam Sundar Singh,co-founder, DeHaat said that they have been building a full stack tech platform to map the entire agri value chain between Indian farmers and agribusinesses. “The tech platform developed by FarmGuide complements our tech vision of bringing efficiency and transparency in the agri supply chain. It’s GIS technology and ability to use satellite data for crop monitoring and analysis will help DeHaat to provide super customised crop advisory solutions to farmers and relevant agri insights to businesses transacting on DeHaat platform for agri input as well as agri output,” he said.

Speaking of the acquisition, Nikhil Toshniwal, co-founder of FarmGuide said that the primary force behind the transaction was synergies into the target mission of providing end to end services to the farmers in a scalable mode. “Tech platform of FarmGuide will be integrated with DeHaat tech platform to provide real time and customised crop advisory related to water, nutrient and crop stress for a wide range of crops,” he said.

Currently serving over 380,000 farmers across Bihar, Uttar Pradesh, Jharkhand and Odisha, DeHaat provides farmers with access to over 3,200 agricultural inputs, combined with AI-based customised crop advisory content of pest and disease management for major crops delivered via mobile app and call centers. The platform also aggregates corn, wheat, rice, fruits, and vegetables from farmers on their network and directly supplies to over 600 commodity bulk buyers, including retail chains, e-commerce players, FMCG giants, and SME food processors.

Read more at economictimes.indiatimes.com

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