Hesa, a rural tech startup located in Telangana, has secured $2.3 million (Rs 17.8 crore) in a pre-Series A fundraising round headed by Venture Catalysts, with participation from Venture Catalysts US Chapter, Faad, Inflection Point Ventures, WFC, and other significant angel investors.
The firm, founded in 2019 by Vamsi Udayagiri and Hema Nandiraju, will utilize the funds received to grow its geographical reach, develop its technological platform, and extend its capabilities in agri-fintech and commerce.
Hesa allows for many API interfaces to deliver online, round-the-clock services in major sectors such as FinTech, Agri Buy-Sell Input/Output, Insurance, Online Education, Catalogue – Retail Products, and performing Branding Events, Services such as Market Survey, Sampling, and Feedback.
The startup unifies value chains in rural India by enabling local brands and businesses to come together as a community.
“Our primary objective is to provide a connection between financial services providers with their last-mile target consumers using a phygital approach. We will continue to expand and empower businesses to ride the rural value chain for buying and selling, leveraging our technology and human capabilities,” said Vamsi Udayagiri, Founder & CEO of Hesa.
Prior to this round, Hesa had raised $2 million as part of its Seed round in July 2021 from Venture Catalysts.
“Hesa’s hybrid Physical-Digital last mile delivery model is a quick, efficient, and cost effective channel for buying and selling to India’s next 1 billion rural consumers. Vamsi and his team are doing a tremendous job of addressing this growing market, and Hesa’s grassroot approach combined with meticulous implementation is best poised to address this sunrise sector,” said Manish Modi, Managing Partner, Mastermind Capital & lead investor, Venture Catalysts.
“With the size of populace residing in rural areas, there is a growing need to erase the boundary between urban India and rural Bharat. Hesa is committed to serving these lesser-served markets through its superior, cutting-edge technological platform in a seamless manner. This is our second round of investment in this promising start-up that has created a very effective agri-financial services marketplace to plug the demand-supply gap. We wish them the best in their endeavours of uplifting the grass root level in India,” said Apoorva Ranjan Sharma, President & Co-founder at Venture Catalysts.
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