DeHaat, a full-stack agritech platform that provides end-to-end agricultural services to farmers, said on Tuesday that it has acquired a majority stake in Y-Cook India in an all-cash deal.
Y-Cook India is a food technology firm that delivers ready-to-use steamed produce
. It was founded in 2011 by Janardhan Swahar, Vijay Reddy, and Gayathri Swahar. Sweet corn and lentils are processed and exported by the Bengaluru-based company, which exports to nine countries.
Investors include Omnivore Partners, Oikocredit, and 021 Capital, to name a few. While OikCredit and 021 Capital will get an exit through this transaction, Omnivore, which is also an investor in DeHaat will swap its equity.
Swahar will continue to lead the business which will operate as an independent entity under the DeHaat umbrella.
DeHaat is a full-stack agritech startup founded by Shashank Kumar, Amrendra Singh, Adarsh Srivastav, Shyam Sundar Singh, and Abhishek Dokania that uses AI-enabled technology to revolutionize supply-chain and production efficiencies in the farming sector.
It has so far raised $161 million from marquee investors such as Sofina, Lightrock, Prosus Ventures, Sequoia Capital India among others.
Earlier this year, DeHaat acquired Helicrofter – a business-to-business or B2B Agri input marketplace in Maharashtra. “Over the next 12 months, DeHaat aims to expand its customer footprints across 15+ countries with a wide range of fresh as well as processed products sourced directly from farms with a 100% traceability system,” the release said.
Read more on Tech Gist Africa:
School fees payment startup Zenda raises $9.4 million
