Hesa Raises $2.3 Million In Pre-Series A Funding The fund raised will be used for the expansion to newer geographies, strengthening the technology and to increase the offerings
By Teena Jose
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Hesa, a rural-tech startup, has raised $2.3 million in pre-Series A funding round led by Venture Catalysts. The round also witnessed participation from Venture Catalysts USA Chapter, Faad, IPV, WFC and other angels. The fund raised will be used for the expansion to more geographies and to strengthen the technology platform along with increasing the offerings on agri-fintech and commerce.
"We are delighted with the backing and support of Venture Catalysts and other investors who have shown faith in our vision. Our primary objective is to provide a connection between financial services providers with their last-mile target consumers using a phygital approach," said Vamsi Udayagiri, founder and CEO, Hesa.
Hesa is defining rural commerce by helping with the last-mile physical and digital connection to rural India through its integrated B2B2C marketplace. The amalgamation of their rich and diverse experience is helping Hesa reach India's organized finances required by 6.5 lakh villages, as per company's statement.
"India's goal of a $5 trillion economy can best be realized through rapid rural development. Hesa's hybrid physical-digital last-mile delivery is a quick, efficient and cost-effective channel for buying and selling to India's next 1 billion rural customers," said Manish Modi, lead investor, Venture Catalysts.
Venture Catalysts is an integrated incubator. Their innovation provides value to startups through its extensive angel network, funding, community, services and co-working facility.
"With the size of population residing in rural areas, there is a growing need to erase the boundary between urban India and rural Bharat. Hesa is committed to serve these lesser-served markets through its superior, cutting-edge technological platform in a seamless manner," said Dr. Apoorva Ranjan, president and co-founder, Venture Catalysts.
Founded by Vamsi Udayagiri and Hema Nandiraju, Hesa leverages advanced technology that enables multiple API integrations to provide online, round-the-clock services in the key areas of fintech, agri buy-sell input or output, insurance, online education, catalogue-retail products and conducting branding events.
