DeHaat, a full stack agritech platform that provides farmers with end-to-end agricultural services, announced the all-cash acquisition of Y-Cook India.
Y-Cook India is a food technology company that provides steamed produce that is ready to eat. Janardhan Swahar, Vijay Reddy, and Gayathri Swahar founded it in 2011. The Bengaluru-based company processes and exports sweet corn and lentils to nine different nations. Omnivore Partners, Oikocredit, and 021 Capital are among the investors. While OikCredit and 021 Capital will profit from this deal, Omnivore, which is also a DeHaat investor, will have its equity swapped.
Swahar will continue to head the company, which will function under the DeHaat umbrella as a separate organisation.
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 revolutionise 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.
“This acquisition provides DeHaat the opportunity to offer to our farmers’ access to the niche market and customer base that Y-Cook has created both within India and abroad,” said Adarsh Srivastav, cofounder and director, DeHaat. According to him, the Indian export market has grown to $50 billion and is expected to grow further.
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 100% traceability system,” the release said.
For more information please Visit: https://agrevolution.in/
Get to know the pulses of Indian Startup ecosystem : http://indiafirststartup.com