DeHaat, a full-stack agritech platform, has successfully concluded its first-ever employee stock ownership plan (ESOP) buyback program, valued at Rs 10 crore ($1.2 million). The buyback initiative, the first of its kind for the Patna and Gurugram-based company, provided 153 team members, ranging from senior vice presidents to field teams, with the opportunity for wealth creation.
Rishu Garg, the head of the people function at DeHaat, confirmed the completion of the buyback program, highlighting its significance in enabling employee participation in the company’s success.
Over the years, DeHaat has issued ESOPs worth more than Rs 100 crore ($12 million) to over 200 individuals, further aligning its workforce with the company’s growth trajectory.
DeHaat operates as a comprehensive marketplace for the agricultural sector, facilitating the distribution of high-quality agrarian inputs, providing advisory services, offering lending solutions, and establishing market linkages for selling produce.
Recently, DeHaat expanded its reach by appointing Bollywood actor Pankaj Tripathi as its brand endorser and bringing on board agri-industry veteran Dr. K V Subbarao as its first Independent Advisor.
The company’s financial performance reflects its growth trajectory, with gross revenue surging by 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. Additionally, revenue from operations saw a significant uptick of 40% to Rs 2,700 crore, while losses were halved in FY24.
DeHaat is steadfast in its commitment to achieving full-year profitability during FY25.
Having raised approximately $230 million to date, DeHaat commands a valuation of over $705 million, as per insights from startup data intelligence platform TheKredible.
The conclusion of DeHaat’s ESOP buyback program underscores the company’s dedication to fostering a culture of employee ownership and wealth creation. This move further solidifies DeHaat’s position as a leader in the agritech sector, driving innovation and growth in India’s agricultural landscape.
