DeHaat, an ag-tech platform that gives farmers with end-to-end agricultural companies, has introduced the acquisition of a majority stake in Y-Cook India, a meals know-how firm. Shashank Kumar, Co-founder and CEO of DeHaat, said that the acquisition is in step with DeHaat’s enlargement plans, which intention to supply important value advantages to farmers whereas additionally aiding them in offering a greater worth proposition.
The goal firm is predicated in Bengaluru and produces ready-to-eat steamed produce, in addition to processes and exports candy corn and lentils.
Janardhan Swahar, Vijay Reddy, and Gayathri Swahar based the 11-year-old firm, which operates in 9 international locations and provides a variety of steamed snacks and substances.
It is an all-cash transaction, and Oikocredit and O21, Y-investors, Cook’s have exited the corporate via this stake sale.
DeHaat, headquartered in Delhi, serves over ten lakh farmers in Bihar, Uttar Pradesh, Jharkhand, West Bengal, and Maharashtra.
“The acquisition gives farmers better access to domestic and global markets, as well as the customer base that Y-Cook has built-in India and abroad,” stated Adarsh Srivastav, Co-founder and Director of DeHaat.
Helicrofter, a business-to-business Agri enter market in Maharashtra, was acquired by DeHaat three months in the past.
DeHaatTM is likely one of the fastest-growing Agri Tech start-ups and one of many few corporations in India that gives end-to-end options and companies to the farming group. It is growing AI-enabled applied sciences to revolutionize the farm sector’s provide chain and manufacturing effectivity.
Dehaat is at the moment working in Bihar, UP, Odisha, and WB, with 650,000 farmers in our service community, and our objective is to achieve 5 million farmers by 2024.
DeHaat, based by alumni from IIT Delhi, IIT Kharagpur, IIM Ahmedabad, and different high institutes, is now a totally funded start-up with a 3-4x annual progress fee. The impression we have now had on the grassroots stage during the last eight years of our operations has been important.
First printed on: 26 Apr 2022, 09:46 IST