Total amount raised
$24.4 Million
Latest funding date
2/1/2024
Location
BigHaat has successfully raised funding through eight rounds, with the latest being a Series C round. The platform focuses on providing quality agricultural inputs and information to support farmers.
With a diverse group of 16 investors, including recent backers like Amee Shah Mehta and Nishchay Goel, BigHaat continues to innovate in the AgriTech space. Keep reading to explore the intricacies of BigHaat's fundraising journey and the investors backing this innovative platform.
What Is BigHaat?
BigHaat, based in Bangalore, Karnataka, India, is a leading AgriTech platform dedicated to revolutionizing the agricultural industry. The company focuses on providing quality agricultural inputs and information to support farmers, leveraging technology to enhance productivity and sustainability.
With a workforce of 251-500 employees, BigHaat operates as a private entity in the agriculture, AgTech, e-commerce, farming, and retail sectors. The platform integrates data-driven insights and a deep understanding of the agriculture sector to optimize farming practices and improve the livelihoods of farmers across India.
How Much Funding Has BigHaat Raised?
- Seed Round
- Amount Raised: USD 323,000
- Date: December 2016
- Lead Investors: Ankur Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Seed Round
- Amount Raised: USD 200,000
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product offerings and enhance the platform.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: JioGenNext
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and mentorship.
- Seed Round
- Amount Raised: USD 107,546
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand market reach.
- Seed Round
- Amount Raised: USD 2,000,000
- Date: August 2020
- Lead Investors: Beyond Next Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: INR 1,000,000,000
- Date: January 2022
- Lead Investors: JM Financial Private Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product line and increase market penetration.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series C
- Amount Raised: INR 695,000,000
- Date: February 2024
- Lead Investors: Ashish Kacholia, RBA Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and prepare for a larger upcoming round.
Total Amount Raised: USD 3,630,546
Current Valuation: Not publicly disclosed
Key Investors
- Ashish Kacholia
- Details: Ashish Kacholia is a well-known investor in the Indian stock market, often referred to as a marquee investor. He co-led the Series C funding round for BigHaat.
- Investment Focus Areas: Stock market, startups, agritech
- Notable Investments: Not publicly disclosed
- RBA Finance and Investment Company
- Details: RBA Finance and Investment Company is a financial and investment firm. They co-led the Series C funding round for BigHaat.
- Investment Focus Areas: Finance, investment, agritech
- Notable Investments: Not publicly disclosed
- Amee Shah Mehta
- Details: Amee Shah Mehta is listed as a recent investor in BigHaat. Specific details about her background are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Nishchay Goel
- Details: Nishchay Goel is listed as a recent investor in BigHaat. Specific details about his background are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Beyond Next Ventures
- Details: Beyond Next Ventures is a venture capital firm that led a seed round for BigHaat. They focus on supporting innovative startups.
- Investment Focus Areas: Technology, startups, innovation
- Notable Investments: Not publicly disclosed
What's Next for BigHaat?
BigHaat stands at the cusp of significant growth opportunities, driven by its data-led crop advisory services and a robust marketplace platform. The recent $8.4 million pre-Series C funding round underscores investor confidence in the company's potential to scale operations and expand its market reach. With the agricultural sector increasingly embracing technology, BigHaat is well-positioned to capitalize on this trend.
Future fundraising efforts are likely to be bolstered by the company's impressive revenue growth, which saw a leap from Rs 119.7 crore in FY22 to Rs 643 crore in FY23. This financial momentum sets the stage for a larger funding round in the near future, aimed at further scaling operations and enhancing the platform's capabilities. However, challenges such as managing increased losses and competition from other agritech startups remain on the horizon.
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