Bengaluru-based full-stack agritech platform BigHaat to raise INR 37 crore (~USD 4.1 million) from a mix of institutional investors and prominent angels in an extended Series C round—its first equity infusion in more than a year. BigHaat extended series C funding marks yet another validation for the company’s increasingly capital-efficient scale-up strategy and its steady march toward profitability.
According to the reports, the company has approved a special resolution to issue 3,39,450 Series C2 preference shares at INR 1,090 per share. BigHaat Series C round will be led by JM Financial India, which is infusing INR 15 crore, while existing investors Ashish Ramesh Kacholia and Suresh Kumar Agarwal are contributing INR 10 crore each. A consortium of angel investors—including Neeraj Chaudhary, Usha Sharma, Pramod Kumar Lahoty, Kapil Dave, and others—will also participate.
Capital Deployment Strategy
As per filings, the fresh capital will be directed toward:
- Strengthening working capital
- Supporting capital expenditure requirements to sustain expansion
- Meeting general corporate needs
For an agritech business that operates at significant supply chain scale—across inputs, produce distribution, and crop advisory—this funding provides liquidity for operational continuity amid growth ambitions.
Rising Scale With Improved Profitability
The latest fundraise comes against a backdrop of stable year-on-year revenue growth and significant improvements in profitability, as disclosed by BigHaat’s co-founder Sateesh Nukala.
- FY24 revenue: INR 1,050 crore
- FY25 revenue: INR 1,100 crore, marking single-digit growth
- FY26 target: INR 1,400 crore, with spices emerging as a major revenue driver
- Gross margin: 15% in FY25
- Net loss reduction:
- FY24: INR 35 crore
- FY25: INR 25 crore
- EBITDA: Positive for the last three consecutive quarters
- Capital efficiency: 6× revenue-to-capital ratio
The company now serves 30 lakh monthly active farmers and has diversified revenue streams. Farm produce sales contribute 85%, while agri-inputs and digital services make up 15%. Notably, a high-margin vertical—exports and advanced processing, introduced in FY25—now contributes 20% of monthly revenue.
A Full-Stack Agritech Model Gaining Maturity
Founded by Sateesh Nukala, Sachin Nandwana, and Kiran Vunnam, BigHaat positions itself as an integrated digital agriculture platform. It offers:
- Crop advisory powered by data on soil, weather, and crop health
- Agricultural inputs: seeds, pesticides, fertilizers, nutrients, and equipment
- Distribution, marketing, and operational support for agricultural produce
- Access via mobile app, web platform, and multilingual phone support
On the input side, BigHaat offers a broad marketplace for seeds, crop nutrition, pest management solutions, farm hardware, and growth promoters. On the output side, its distribution and processing solutions now constitute a meaningful share of its business model.
Funding History and Investor Profile
Prior to this extended round, BigHaat had raised around USD 26 million (~INR 230 crore) cumulatively. This includes an INR 100 crore (~USD 12 million) infusion in January 2022, also led by JM Financial. Its cap table includes institutional and marquee investors such as:
- Beyond Next Ventures
- Ashish Kacholia
- Ankur Capital
- Several high-profile angel investors
The continued participation of existing investors in the new funding signals confidence in BigHaat’s unit economics, operational capability, and near-term path to profitability.
Standing Out in the Agritech Landscape
BigHaat’s performance contrasts with several larger peers in India’s agritech sector.
- DeHaat: INR 2,675 crore revenue in FY24 but losses exceeding INR 240 crore
- Ninjacart: Over INR 2,000 crore revenue with a loss of INR 259.6 crore in the same period
While these platforms are larger in absolute scale, their high cash burn highlights the inherent structural challenges in India’s agritech market—logistics intensity, fragmented supply chains, and fluctuating commodity cycles. BigHaat, meanwhile, is attempting to carve a niche through capital efficiency, margin discipline, and vertical integration.
The Road Ahead
With a renewed infusion of growth capital, BigHaat appears poised to accelerate its trajectory toward sustainable profitability. Its focus areas include:
- Scaling its export and processing vertical
- Strengthening spices and high-value commodity segments
- Potential acquisitions of agri-brands to expand product portfolios
- Continued investment in technology-led advisory and market linkage
As India’s agritech sector matures, investors are increasingly prioritizing profitability over blitzscaling. BigHaat’s latest raise—backed by long-standing investors doubling down—underscores the market’s belief in its balanced approach: combining scale with financial discipline.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.