As part of an expanded Series C round, full-stack agritech platform BigHaat is raising Rs 37 crore ($4.1 million) from its current investors, marking its first fundraising event in more than a year.
Key Highlights
- BigHaat raises $8.4 M in pre-Series C funding from Ashish Kacholia and RBA Finance.
- JM Financial remains BigHaat’s largest shareholder, holding over 27% equity post-round.
According to regulatory records obtained from the Registrar of Companies (RoC), the Bengaluru-based company has authorized a special resolution to issue 3,39,450 Series C2 preference shares at an issue price of Rs 1,090 apiece.
Leading the round with a Rs 15 crore infusion would be JM Financial India. Ashish Ramesh Kacholia and Suresh Kumar Agarwal, two current investors, would each contribute Rs 10 crore. Neeraj Chaudhary, Kapil Dave, Usha Sharma, Pramod Kumar Lahoty, and other angel investors are among the individual supporters who will participate in the round.
The documents state that the new funds will be used to finance capital expenditures required to maintain the company's growth trajectory, cover working capital requirements, and meet basic business purposes.
BigHaat is a full-stack agritech solution that helps farmers make better decisions by offering data-driven crop consulting. The platform helps farmers with distribution, marketing, and operations in addition to providing advice. A broad range of agricultural inputs, such as seeds, fertilizers, pesticides, farm equipment including pumps, and different crop growth enhancers, are also sold by the corporation.
Thus far, BigHaat has received over $26 million, including a Rs 100 crore ($12 million) round sponsored by JM Financial in January 2022. Notable investors in its cap table include Ankur Capital, Ashish Kacholia, Beyond Next Ventures, and a number of well-known angel investors.
Also Read: Hoopr Secures Funding in Extended Pre-Series A Round
BigHaat has reported consistent financial growth. In the preceding fiscal year (FY25), the company improved its profitability measures while surpassing the Rs 1,000 crore revenue milestone. BigHaat co-founder Sateesh Nukala stated that the company hopes to generate Rs 1,400 crore in revenue by the conclusion of the current fiscal year.
