Agritech startup DeHaat completes its first ESOP buyback

DeHaat, a full-stack agritech platform based in Patna and Gurugram, has completed its first Employee Stock Ownership Plan (ESOP) buyback program, valued at Rs 10 crore ($1.2 million).

The buyback allowed 153 team members, ranging from Senior Vice Presidents to field teams, to participate in wealth creation.

"The ESOP buyback programme demonstrates our dedication to our employees, and we are glad to generate wealth creation opportunities and foster a culture of growth inside the firm," said Shashank Kumar, Co-founder and CEO of DeHaat.

To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals.

What does DeHaat do?

DeHaat, a full-stack agritech platform based in Patna and Gurugram, offers a comprehensive range of services for the agricultural sector. It provides high-quality agrarian inputs, expert advisory services, lending options, and market linkages to help farmers sell their produce.

The platform aims to improve farmers' incomes and help them achieve financial security. Operating in 12 Indian agrarian states, DeHaat currently serves over 1.8 million farmers.

Recently, DeHaat brought on Bollywood actor Pankaj Tripathi as its brand endorser and appointed agri-industry veteran Dr. K V Subbarao as its first independent advisor.

DeHaat’s financial performance

DeHaat has shown significant financial growth recently. In FY23, the startup's gross revenue increased by 54.2%, rising to Rs 1,965 crore from Rs 1,274 crore in FY22. 

The revenue from operations grew by 40%, reaching Rs 2,700 crore in FY24.

Additionally, DeHaat managed to reduce its losses by 50% during the same period. Its growth has been driven by high-margin businesses, including the export of sustainably grown farm produce, food processing, and the sale of biological agricultural inputs.

DeHaat aims to achieve full-year profitability by FY25.