RuralTech startup Hesa has raised $2.3 million in its pre-Series A round led by Venture Catalysts. The round also saw participation from Venture Catalysts USA Chapter, Faad, IPV, WFC and other angels.
The funds raised will be used towards expansion to more geographies and to develop the product.
Founded by Vamsi Udayagiri and Hema Nandiraju, Hesa provides online services in fintech, agri buy-sell input/output, insurance, online education, and a catalogue of retail products.
The Hyderabad-based startup claims to have connected over 65 brands to 600,000 rural customers through 8000 partners in around 5000 Indian villages. It has tied up with brands like Wycool, BigHaat, Walmart, HDFC Life, Reliance General Insurance and Apollo Hospitals.
Last June, Hesa had raised $2 million in its seed round led by Manish Modi of Mastermind Capital at Venture Catalysts (VCats) along with accelerator fund 9Unicorns.