Dairy Tech Startup Stellapps Raises around $20 million in Series C Funding
Bengaluru-based dairy tech startup Stellapps is intheir final stage of discussions to raise around $20 million in its Series C funding round. Nearly 70% of the funding will be raised from existing investors, including Celesta Capital,Omnivore, Gates Foundation, IDH Farmfit Fund, Blume Ventures, and Qualcomm Ventures. The Co-founder and CEO Ranjith Mukundan confirmed that, two more new investors are coming to join this new round of fundraising. He did not disclose the name of the investors and the valuation at which the startup is looking to raise the funding.
The startup is eyeing on introducing IPO in the next three to four years. They will make use this fund for further expansion, with a special focus on value-added dairy products.
The company was founded by IIT alumni and ex-Wipro employees Mukundan, Ravi Shiroor, Ramakrishna Adukuri, Praveen Nale and Venkatesh Seshasayee in 2011, Stellapps provides a full-stack Internet of Things (IoT) platform to digitize and optimize the entire milk supply chain, right from production to procurement and storage. The platform also connects farmers with financial & insurance institutions, cattle nutrition providers, agro-input providers.
This is an internationally acclaimed farm to consumer dairy digitization service provider, which is constantly improving productivity and quality in its services. Mentioning about their agenda, Ranjith Mukundan stated that, they are on a mission to shift Indian smallholder farmers into the agripreneur orbit enhancing productivity, improving quality and enabling traceability through their smartMoo solutions. He also added that, the supports and trust of their investors make their mission successful and helps in enhancing the profitability through combination of their technology solutions, farm inputs and market linkages.
Mukundan confirmed that, they are also considering making ice-cream and selling it under a private label to other businesses. Stellapps last raised an undisclosed amount of funding from IDH FarmFit in 2022, a few months after it raised $18 Mn in its Pre-Series C funding round from global animal nutrition and aquaculture company Nutreco.
The startup is eyeing on introducing IPO in the next three to four years. They will make use this fund for further expansion, with a special focus on value-added dairy products.
The company was founded by IIT alumni and ex-Wipro employees Mukundan, Ravi Shiroor, Ramakrishna Adukuri, Praveen Nale and Venkatesh Seshasayee in 2011, Stellapps provides a full-stack Internet of Things (IoT) platform to digitize and optimize the entire milk supply chain, right from production to procurement and storage. The platform also connects farmers with financial & insurance institutions, cattle nutrition providers, agro-input providers.
This is an internationally acclaimed farm to consumer dairy digitization service provider, which is constantly improving productivity and quality in its services. Mentioning about their agenda, Ranjith Mukundan stated that, they are on a mission to shift Indian smallholder farmers into the agripreneur orbit enhancing productivity, improving quality and enabling traceability through their smartMoo solutions. He also added that, the supports and trust of their investors make their mission successful and helps in enhancing the profitability through combination of their technology solutions, farm inputs and market linkages.
Mukundan confirmed that, they are also considering making ice-cream and selling it under a private label to other businesses. Stellapps last raised an undisclosed amount of funding from IDH FarmFit in 2022, a few months after it raised $18 Mn in its Pre-Series C funding round from global animal nutrition and aquaculture company Nutreco.
