Leading agritech firm DeHaat has successfully carried out its maiden employee stock ownership plan (ESOP) buyback scheme worth Rs. 10 crores. Through this initiative, over 150 team members including senior vice presidents and field staff directly benefited.
Founded a decade ago with a mission to empower Indian farmers through technology, DeHaat says it has so far issued ESOPs valued at more than Rs. 100 crores to over 200 individuals. Commenting on the development, CEO and co-founder Shashank Kumar stated this buyback demonstrates the company’s commitment to employees and generating wealth creation opportunities for them.
DeHaat operates a full-stack digital platform providing end-to-end agricultural services to farmers across 11 states. These include supply of quality farm inputs, customized advisories, financial services access and market linkages. The agritech startup claims to have assisted over 2 million farmers through its network of more than 11,000 localized centers.
According to company details, revenue from operations increased 40% year-on-year in FY24 to Rs. 2,700 crores. Losses also narrowed by 50% during this period. DeHaat aims to achieve full profitability in the current fiscal year through focus on export of sustainable farm produce, food processing and bio input sales.
Backed by investors like Sofina Ventures and RTP Global Partners, DeHaat appears well positioned to empower more farmers and agricultural communities through digital transformation on the farm to fork value chain. Its ongoing ESOP initiatives also seem targeted at motivating and retaining talent essential for the company’s future growth plans.
