Meet Shashank Kumar, IITian who left high-paying job to build Rs 1250 crore-revenue business

In terms of GDP, one of India's main sectors is agriculture. With technological innovation, it is critical to address the inefficiency and lack of transparency that are this market's two main issues. DeHaat, an all-encompassing provider for Indian farmers, was established by an IITian to rectify the issue. For more than ten years, DeHaat has served as a link between corporations and farmers.

Who is Shashank Kumar?

Shashank Kumar is a native of Chhapra in the state of Bihar; his mother was a teacher and his father worked in the Bihar National Electricity Board. Shashank Kumar attended Netarhat Residential School in Jharkhand for his education. He then graduated in 2008 with a degree in textile engineering from the Indian Institute of Technology, Delhi.

He additionally completed a minor in business administration at IIT Delhi's Management Studies Department. Following this, Shashank Kumar began working for Beacon Advisory Services, a management consulting firm, where he spent about 2.5 years.

Gave up his job to launch business

Together with his old friend Manish Kumar from IIT Kharagpur, Shashank Kumar left his job and established the non-profit foundation Firm & Farmers in 2011 with the intention of improving the farming industry. Following this, Dehaat launched the Social Enterprise Green Agrivolution in the year 2012. When Shashank Kumar visited the farmers, they did not understand how a 24-year-old boy could have any specific expertise in farming.

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Amrendra Singh, Shyam Sundar, Adarsh Srivastav, and Shashank Kumar, alumni of IIT Delhi, IIM, and NIT, are currently in charge of the team since Manisha Kumar left the business. The business, which has offices in Gurugram and Patna, intends to use technological innovations to help farmers enhance their produce.

What is DeHaat?

Patna-based DeHaat is a digital portal that links small-scale farmers with a community of micro-business owners who provide various farm inputs and equipment. These suppliers buy inputs like seeds, fertiliser, and even machinery, as well as provide crop advising services and market connections.

DeHaat revenue

According to CEO Shashank Kumar, the income of agritech company DeHaat is expected to increase by over 80% this fiscal year to over Rs 2,300 crore due to improved sales of farm inputs to farmers and trading of agricultural products in domestic and international markets. According to CEO Shashank Kumar, DeHaat had a revenue of about Rs 1,250 crore in 2022, according to PTI.