DeHaat, the agritech startup backed by Peak XV, has successfully completed its inaugural employee stock ownership plan (ESOP) buyback program, amounting to INR 10 Cr. This milestone marks a significant step towards rewarding the dedication and contributions of its team members.
Empowering the Workforce
In an official statement, DeHaat highlighted its commitment to nurturing talent and fostering a culture of ownership. The ESOP buyback program, valued at over INR 100 Cr and extended to more than 200 individuals, reflects the company’s recognition of the pivotal role played by its workforce in driving sustained growth and impact.
Shashank Kumar, Co-founder and CEO of DeHaat, expressed gratitude towards the team, emphasizing their integral role in the company’s journey. He underscored DeHaat’s unwavering dedication to employee welfare and wealth creation, emphasizing the significance of the ESOP program in aligning incentives and fostering a sense of ownership among employees.
Driving Agricultural Transformation
Founded in 2012 by Shashank Kumar, Amrendra Singh, Shyam Sundar, and Adarsh Srivastav, DeHaat has emerged as a pioneering force in the agritech landscape. The platform operates as a comprehensive business-to-farmer (B2F) solution, offering a wide array of agricultural services tailored to the needs of Indian farmers.
DeHaat’s offerings span agri-input distribution, farm advisory services, financial access, and market linkages, empowering farmers across 11 states in India. Leveraging its digital network of over 11,000 ‘DeHaat Centres’, the startup has served over 2 Mn farmers, facilitating access to vital resources and enhancing agricultural productivity.
Path to Profitability
Buoyed by robust operational performance, DeHaat reported a 40% year-on-year increase in revenue from operations, reaching INR 2,700 Cr in FY24. Moreover, the company witnessed a 50% reduction in losses, signaling progress towards sustainable growth and profitability.
With a strategic focus on high-margin business segments such as export of sustainably grown farm produce and food processing, DeHaat aims to achieve full-year profitability in FY25. The startup’s emphasis on operational efficiency and value-added services underscores its commitment to driving positive outcomes across the agricultural value chain.
Expansion and Innovation
DeHaat’s growth trajectory extends beyond core operations, encompassing strategic acquisitions, product diversification, and global expansion. The recent acquisition of Freshtrop Fruits and the launch of Honest Farms products across modern trade and ecommerce platforms underscore the company’s strategic vision and commitment to innovation.
