In a move intended to further strengthen its foothold in the global food supply chain, agritech platform DeHaat Tuesday has acquired food tech company, Y-Cook India Pvt. Ltd for an undisclosed amount.
Launched in 2011 by Janardhan Swahar, Vijay Reddy and Gayathri Swahar, Y-Cook provides boiled vegetables, lentils and fruit in both ready-to-eat and ready-to-cook formats. It has a presence in 9 countries & counts investors like Omnivore Partners, Oikocredit and 021 Capital as its backers.
“DeHaat and Y-Cook's vision synergises well, with both believing that good food starts from the farmer. At Y-Cook, we have always worked closely with farmers to not only ensure quality in the produce but also create sustainable farming methods securing soil for generations to come,” Swahar said.
Over the next 12 months, DeHaat aims to expand its customer footprint across over 15 countries. Currently, it serves over 1 million farmers via its platform across states like Bihar, Uttar Pradesh, Jharkhand, West Bengal, Odisha, Madhya Pradesh, Rajasthan, and Maharashtra. It has a network of 8,000 franchise agents on the ground acting as last-mile touchpoints for its customers.
After purchasing Maharashtra-based B2B agri-input marketplace Helicrofter, this is Dehaat’s fourth acquisition in recent times. Post the acquisition, DeHaat will lend strategic support to Y-Cook which will continue to operate in the current form with Swahar as the CEO, a statement noted.
Adarsh Srivastav, Co-founder and Director, DeHaat, said “This acquisition provides DeHaat with the opportunity to offer our farmers access to the niche market and customer base that Y-Cook has created both within India and abroad. The direct alignment of Y-Cook with our ‘Farmers First’ vision to provide benefits to farmers motivated us to lead this transaction at a time when the Indian export market has grown to $50 billion and is expected to grow further.”
DeHaat, operated by Green Agrevolution Pvt. Ltd, was set up in 2012 by Manish Kumar, Amrendra Singh, Shyam Sundar, and Adarsh Srivastav. In October 2021, DeHaat raised $115 million as part of its Series D funding round led by Belgium-based investment firm Sofina and Lightrock India. The company has raised close to $161 million since its inception in 2012.