Fund Raise: Smart tech in the dairy sector

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November 08, 2021 12:30 AM

Dairy tech startup Stellapps completes first close of pre-Series C round to digitalise the Indian dairy sector

Ranjith Mukundan, CEO of StellappsRanjith Mukundan, CEO of Stellapps

India’s leading dairy-tech startup Stellapps was founded in 2011 by five technology industry veterans who believed that IoT could transform rural India. Its award-winning smartMoo technology solutions enhance productivity, milk quality, and enable traceability. By enabling ecosystem partnerships through its online platform, Stellapps empowers farmers by providing access to financial services, quality nutrition, and timely veterinary care. Stellapps’ mooPay FinTech arm facilitates the financial inclusion of smallholder farmers by providing access to digital payments, banking, savings, cash withdrawal, credit, and insurance.

Recently, Stellapps announced it has completed the first close towards its pre-series C round from various investors. The total size of the round will be $18 million. Led by global animal nutrition and aquaculture company, Nutreco, the fundraising round saw participation from existing investors including Qualcomm Ventures, Celesta Capital, and ABB Technology Ventures. Stellapps plans to employ the funds to rapidly scale its traceability network and extend its digital footprint across India.

The Indian market for dairy sector accounts for about 6.5% of India GDP, a market worth about $225 billion. India is the largest milk producer in the world and contributes to 22% of global milk production. Stellapps’ technology will ensure that farmers gain access to its services like farm improvement, cattle nutrition, credit, and insurance, to deliver assured quality across the dairy supply chain.

“Our vision is to unlock unprecedented value across the dairy supply chain for all stakeholders, especially smallholder farmers,” said Ranjith Mukundan, CEO of Stellapps. “We are on a mission to shift the Indian smallholder farmers into the agripreneur orbit by enhancing productivity, improving quality, and enabling traceability through our smartMoo solutions. The support of our investors allows us to actualise our vision to enhance farmer income and profitability through a combination of our technology solutions, farm inputs, and market linkages.”

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