Hesa bags $2.3 million in its Pre-Series A round of funding led by Venture Catalysts

• ByStartupStory     |    June 3, 2022

Hesa, a rural technology business, has secured $2.3 million in a pre-Series A investment led by Venture Catalysts. Venture Catalysts USA Chapter, Faad, IPV, WFC, and other angels also participated in the round. The funds obtained will be utilised to expand into new areas, enhance the technological platform, and expand products in agri-fintech and commerce.

Vamsi Udayagiri, Hesa’s founder and CEO said that the company is thrilled to have the backing and support of Venture Catalysts and other investors that believe in our mission. Our major goal is to link financial service providers with their last-mile target clients using a phygital approach.

Dr Apoorva Ranjan, president and co-founder of Venture Catalysts stated that with the majority of the people living in rural regions, there is an increasing need to dissolve the divide between urban India and rural Bharat. Hesa is devoted to serving these underserved markets in a seamless manner with its superior, cutting-edge technology platform.

Hesa, founded by Vamsi Udayagiri and Hema Nandiraju in 2019, uses innovative technology to deliver online, round-the-clock services in the major areas of finance, agro buy-sell input or output, insurance, online education, catalogue-retail items, and arranging branding events. Through a comprehensive B2B2C marketplace, Hesa is defining rural commerce by assisting with the last-mile physical and digital connectivity to rural India. According to the firm, the combination of their broad and diversified knowledge in assisting Hesa in reaching India’s structured finances is required by 6.5 lakh communities.

Venture Catalysts is a full-service incubator. Through its broad angel network, finance, community, services, and co-working space, its innovation adds value to entrepreneurs. Manish Modi, Venture Catalysts’ lead investor said that rapid rural development is the greatest way for India to achieve its $5 trillion economic ambition. Hesa’s hybrid physical-digital last-mile distribution offers a fast, efficient, and cost-effective way to purchase and sell to India’s next 1 billion rural customers.

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