[Funding alert] Native Angels Network invests Rs 1.7 Cr in dairy products startup UzhavarBumi
Nativelead’s investment arm Native Angels Network has invested Rs 1.7 crore in Madhuranthakam-based fresh dairy products startup, UzhavarBumi Agro Products Pvt Ltd, with Sankar Kanagasabai as the lead investor.
Nativelead Foundation’s CEO Sivarajah Ramanathan believes that startups such as Uzhavar Bumi will not only survive these lockdown conditions, but emerge more successful and will be in demand.
“These are times that have shown humanity the necessity of moving towards a more sustainable lifestyle. I believe people will become more conscious of their products and commodities, and be cognizant of not only what is good for them, but also for their surroundings. Thus, socially mindful startups are sure to thrive post-lockdown and COVID-19,” Ramanathan said.
Founded in July 2017 by Vetrivel Palani and Paneerselvam, UzhavarBumi works directly with farmers and agro workers to bring fresh milk to consumer’s tables without the use of any chemicals. Their primary offerings include fresh milk (delivered within 12 hours of sourcing), ghee, and honey.
Co-founder Vetrivel Palani said,
“We began with the notion that organic and fresh produce should be commodities that are available for all, regardless of their socio-economic status.”
Started with a sale of about 10-15 bottles a day, the startup has now reached 4,000 bottles per day. Each bottle is priced at an affordable cost of Rs 60, which is claimed to be one of the primary USPs for the brand.
Apart from UzhavarBumi, Nativelead has already backed other socially driven and futuristic startups like SP Robotics, Fresh World, VillFresh, Happy Hens, Native Special, Farmers Fresh Zone, and Carbon Masters.
In February, venture capital firm Matrix Partners India led a $10 million (around Rs 70 crore) investment round in dairy startup Country Delight. The Gurugram-based startup’s existing investor Orios Venture Partners also participated in the round.
In October last year, NutriMoo, a dairy and whole foods brand, also secured an equity funding worth more than $1 million from IndoCan Honey Pvt Ltd, a North India-based business entity that focuses on premium quality honey.