Telangana-based rural tech startup Hesa has raised $2.3 million or Rs 17.8 crore in a pre-Series A funding round led by Venture Catalysts, along with the participation from Venture Catalysts US Chapter, Faad, Inflection Point Ventures, WFC, and other notable angel investors.
Founded in 2019 by Vamsi Udayagiri and Hema Nandiraju, The startup will use the raised funding to expand its geographical footprint and strengthen the technology platform along with increasing the offerings on agri-fintech and commerce.
Hesa enables multiple API integrations to provide online, round-the-clock services in the key areas of FinTech, Agri Buy-Sell Input/Output, Insurance, Online Education, Catalogue – Retail Products, and conducting Branding Events, Services like 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.