Exclusive: BigHaat to top up Series C led by JM Financial

Full-stack agritech platform BigHaat is raising Rs 37 crore ($4.1 million) from its existing investors as part of an extended Series C round, representing its first fundraise in over a year. 

The Bengaluru-based startup has approved a special resolution to issue 3,39,450 Series C2 preference shares at an issue price of Rs 1,090 each, as per regulatory filings sourced from the Registrar of Companies (RoC).

JM Financial India will be leading the round with an infusion of Rs 15 crore. Existing investors Ashish Ramesh Kacholia and Suresh Kumar Agarwal will contribute Rs 10 crore each. The round will include participation from several individual backers, including Neeraj Chaudhary, Kapil Dave, Usha Sharma, Pramod Kumar Lahoty, and other angel investors.

According to the filings, the fresh capital will be deployed towards meeting the company’s working capital requirements, supporting capital expenditures necessary to sustain its growth trajectory, and fulfilling general corporate needs. 

Founded as a full-stack agritech solution, BigHaat provides data-led crop advisory to farmers to help them make more informed decisions. Alongside advisory, the platform supports farmers with distribution, marketing, and operations. The company also sells a wide catalogue of agricultural inputs, including seeds, pesticides, fertilizers, farm equipment like pumps, and various crop growth promoters.

BigHaat has raised approximately $26 million to date, including a Rs 100 crore ($12 million) round led by JM Financial in January 2022. Its cap table features notable investors such as Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and several prominent angels.

Financially, BigHaat has reported steady growth. The company crossed the Rs 1,000 crore revenue milestone in the previous fiscal year (FY25) while simultaneously improving its profitability metrics. In a recent interaction with Entrackr, BigHaat co-founder Sateesh Nukala said the firm is targeting Rs 1,400 crore in revenue by the end of the current fiscal year.