Aavishkaar Capital, the Agritech and dairy startup MoooFarm, raised $13 million in Series A financing on behalf of the company. Accel Partners, Aditya Birla Ventures, Rockstart, Navus Ventures, and Alteria Capital also took part in the financing round.
In-depth Details about Gurugram based Agritech Startup MoooFarm Raises amount of $13M in Series A Funding:
The company plans to use the funding to grow into Madhya Pradesh and Maharashtra as well as build its operations in Rajasthan, Punjab, and Haryana.
The goal of MoooFarm, a company co-founded by Param Singh, Aashna Singh, Abhijeet Mittal, and Jitesh Arora, is to help India’s 100 million dairy farmers escape poverty and provide wholesome milk for more than a billion people.
It offers a dairy farm management app in the native tongue of the farmers. The software gives farmers access to veterinary services and dairy farming methods and makes purchasing supplies (such as animals and cow feed) more dependable.
The founder and CEO of MoooFarm, Param Singh, said in a statement: “We want to use this Series A funding to further extend our operations nationally and increase our capacity to cater to the rising demands of our farmer communities. In order to increase productivity, production, and profits, MoooFarm provides an integrated, effective, and scalable dairy management solution that integrates all stakeholders along the value chain.
A MoooSathi, a village-level entrepreneur who offers last-mile aggregation & demand servicing support, ensures the distribution of services provided by the company to the farmer.
Through the appropriate technical interventions, MoooFarm aims to disrupt the dairy value chain, creating enormous opportunities for small and marginal dairy farmers to increase their incomes and organize this previously unorganized industry.
The Gurugram-based Agritech and dairy firm want to double its income by FY2023–24 to Rs 300 crore and expand its network of MoooSathis to 3,000.
In order to create sustainable food systems for 100 million dairy farmers and one billion customers, MoooFarm received $2.4 million in a seed round of funding earlier this year, under the leadership of Accel India.
