Digivriddhi Technologies (DGV), a dairy fintech startup, has secured Rs 50 crore ($6 million) in Series A funding. This funding round was spearheaded by Omidyar Network India, with active participation from existing investors Omnivore and InfoEdge Ventures. The substantial investment underscores the confidence in DGV's potential for growth. The newly acquired funds will play a crucial role in driving the company's expansion plans and advancing its technological innovations.

Founder and CEO Ragavan Venkatesan articulated DGV's mission, highlighting the dairy sector's potential to amplify the income of Indian farmers. Through their DGV PAY system, the company streamlined payment processes for dairy farmers and micro-enterprises, catering to their basic banking needs. By integrating ERP systems across the dairy value chain, DGV developed a distinctive underwriting mechanism enabling digital working capital and bovine loans through DGV Money. Since its establishment in 2019 by Ragavan Venkatesan, DGV has played a crucial role in granting institutional credit access to dairy farmers and microenterprises, while digitizing and simplifying payments within the dairy ecosystem.

In Gujarat, DGV has collaboratively engaged with 75% of the region's dairy processors, including the notable Amul, to create financial access infrastructure for 3.6 million dairy farmers. Expanding its services to Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, and Maharashtra, the platform offers a comprehensive array of banking, financial services, and insurance products. Through strategic alliances with five major banks, leading dairy processors, and government bodies, DGV utilizes its integrated dairy fintech and marketplace platform.

A significant achievement for DGV has been the establishment of a digital public infrastructure for digital bovine loans in collaboration with the Reserve Bank of India Innovation Hub. This initiative aims to simplify and digitize the loan process for rural Indian dairy farmers. Previously securing a seed funding round of $3.1 million in November 2021, led by Omnivore and InfoEdge Ventures, along with support from angel investors, DGV has now achieved a pivotal milestone with the recent Series A funding. This funding marks a significant step forward for DGV as it continues to reshape financial inclusion within India's dairy sector.