DeHaat, an online agribusiness marketplace, has finalized the acquisition of AgriCentral, a leading farm advisory platform, through a business transfer agreement executed as an all-cash transaction, though the financial specifics remain undisclosed. This acquisition, backed by Olam International, positions DeHaat to broaden its service outreach, now extending to over 12 million smallholder farmers across India. Shashank Kumar, DeHaat's cofounder and CEO, articulated that the integration of AgriCentral's digital capabilities will enhance DeHaat's mission to serve a larger segment of underserved farmers with its comprehensive agri value chain offerings, including precision advisory and mechanization among others, aimed at improving farmers' livelihoods.
Over the past decade, DeHaat has evolved its platform to serve as a holistic resource for farmers, offering a wide range of services including inputs, insurance, and market access. The platform operates through a network of over 15,000 DeHaat Centres and collaborates with a myriad of stakeholders in the agribusiness sector to support its operations across 12 Indian states. This expansion comes as a significant portion of India's agriculture is managed by smallholders, who face challenges in accessing reliable supplies and financial services, often exacerbated by intermediaries affecting price fairness. DeHaat's digital solutions aim to mitigate these challenges, providing more direct and equitable market access.
In recent strategic moves, DeHaat expanded its portfolio to include biologicals through partnerships with Global BioAg Innovation and Aussan Laboratorie, and launched Honest Farms, a consumer brand offering agricultural staples online. The addition of AgriCentral's advisory services, leveraging advanced technologies like satellite imagery and machine learning, is set to offer enhanced decision-making tools to farmers, covering aspects such as crop care diagnostics and real-time market pricing. AgriCentral's integration into DeHaat's platform not only extends its advisory capabilities but also significantly expands its user base, marking a substantial milestone towards DeHaat's growth objectives.
Source: AFN