DeHaat, an ag-tech platform that provides farmers with end-to-end agricultural services, has announced the acquisition of a majority stake in Y-Cook India, a food technology company. Shashank Kumar, Co-founder and CEO of DeHaat, stated that the acquisition is in line with DeHaat's expansion plans, which aim to provide significant price benefits to farmers while also assisting them in providing a better value proposition.
The target company is based in Bengaluru and produces ready-to-eat steamed produce, as well as processes and exports sweet corn and lentils.
Janardhan Swahar, Vijay Reddy, and Gayathri Swahar founded the 11-year-old company, which operates in nine countries and offers a wide range of steamed snacks and ingredients.
It is an all-cash transaction, and Oikocredit and O21, Y-investors, Cook's have exited the company through 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," said Adarsh Srivastav, Co-founder and Director of DeHaat.
Helicrofter, a business-to-business Agri input marketplace in Maharashtra, was acquired by DeHaat three months ago.
About Dehaat:
DeHaatTM is one of the fastest-growing Agri Tech start-ups and one of the few companies in India that provides end-to-end solutions and services to the farming community. It is developing AI-enabled technologies to revolutionize the farm sector's supply chain and production efficiency.
Dehaat is currently operating in Bihar, UP, Odisha, and WB, with 650,000 farmers in our service network, and our goal is to reach 5 million farmers by 2024.
DeHaat, founded by alumni from IIT Delhi, IIT Kharagpur, IIM Ahmedabad, and other top institutes, is now a fully funded start-up with a 3-4x annual growth rate. The impact we have had at the grassroots level over the last eight years of our operations has been significant.
