DeHaat’s Losses Widen By 3X, Revenues Jump 186% To INR 358 Cr In FY21

One of the most valued agritech startup DeHaat has seen its losses widen by almost 3X on a year-on-year basis. 

The Patna-based startup has posted a consolidated loss after tax of INR 54.1 Cr, a 198% increase from INR 18.1 Cr it recorded in FY20. 

The full-stack agritech startup has also seen its revenue from operations almost double in the financial year ending on March 31, 2021. DeHaat has earned INR 358.2 Cr from its operations, a 186% rise from INR 125.1 Cr it earned in FY20. 

In FY21, DeHaat’s total income was pegged at INR 360.9 Cr, a significant jump from INR 125.8 Cr it witnessed in FY20.

Likewise, the startup’s expenses have almost tripled between April 2020 to March 2021. The startup has spent cash worth INR 415.1 Cr in FY21, a 189% increase from INR 143.4 Cr it clocked in FY20. 

Under expenses, the startup has increased its expenditure in purchase of stock-in-trade to INR 362 Cr from INR 125.3 Cr, employee benefit expenditure to INR 29 Cr from INR 9.3 Cr, finance cost to INR 2.3 Cr from INR 59.7 Lakh, among others. 

Founded in 2012 by Amrendra Singh, Shyam Sundar, Adarsh Srivastav & Shashank Kumar DeHaat offers end-to-end agricultural services to farmers, including distribution of high-quality agri-inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.

The startup has created a rural retail network of more than 3,000 DeHaat microentrepreneurs for last-mile delivery. It claims to serve more than 650K farmers located across Bihar, UP, Jharkhand and Odisha.

DeHaat plans to onboard 5 Mn farmers by 2024. In October last year, it bagged the second largest agritech funding worth $115 Mn in its Series D round. The funding was led by Sofina and Lightrock India and saw co-investment by Temasek. The round also had participation from existing investors Prosus Ventures, RTP Global, Sequoia Capital, and FMO. 

The round pegged the startup’s valuation to $500 Mn – $550 Mn. This investment has come exactly nine months after DeHaat closed $30 Mn in a Series C round led by Posus Ventures. 

It has also acquired two startups to date — VezaMart, a platform that builds farm management solutions for farmers and FarmGuide, which creates information symmetry in agriculture through ICT and data analytics techniques.