BigHaat Secures Rs 37 Crore in Funding
BigHaat, a full-stack agritech platform, has successfully raised Rs 37 crore ($4.1 million) from its current investors during an extended Series C funding round. This is their first fundraising effort in over a year. The startup, based in Bengaluru, has approved a special resolution to issue 3,39,450 Series C2 preference shares, priced at Rs 1,090 each, according to regulatory documents obtained from the Registrar of Companies (RoC).
Funding Details
JM Financial India will be leading this funding round with a commitment of Rs 15 crore. Existing investors Ashish Ramesh Kacholia and Suresh Kumar Agarwal are each set to contribute Rs 10 crore. Additionally, several individual backers will participate, including Neeraj Chaudhary, Kapil Dave, Usha Sharma, Pramod Kumar Lahoty, and various angel investors.
Utilisation of Funds
The newly acquired capital will be utilised to address the company’s working capital needs, support capital expenditures essential for ongoing growth, and meet general corporate requirements.
Overview of BigHaat
BigHaat was established as a comprehensive agritech solution, offering data-driven crop advisory services to assist farmers in making well-informed decisions. In addition to advisory services, the platform facilitates farmers with distribution, marketing, and operational support. The company also offers an extensive range of agricultural inputs, including seeds, pesticides, fertilisers, farm equipment such as pumps, and various crop growth enhancers.
Funding History
To date, BigHaat has raised approximately $26 million in total, which includes a significant Rs 100 crore ($12 million) investment led by JM Financial in January 2022. The company’s capital table boasts prominent investors like Beyond Next Ventures, Ashish Kacholia, Ankur Capital, along with several notable angel investors.
Financial Growth
BigHaat has demonstrated consistent financial growth, crossing the Rs 1,000 crore revenue threshold in the previous fiscal year (FY25) while enhancing its profitability metrics. In a recent discussion with Startup Superb, Sateesh Nukala, co-founder of BigHaat, indicated that the company aims to achieve Rs 1,400 crore in revenue by the conclusion of the current fiscal year.