[Funding alert] Animal nutrition startup Krimanshi raises Rs 5 Cr from RVCF
Technologies Pvt Ltd, a Jodhpur-based animal nutrition startup has raised Rs 5 crore in seed funding from Rajasthan Venture Capital Fund (RVCF) to scale its feed production capacity and expand to newer geographies.
"Animal feed sector is an underserved market and not much innovation has been seen here in the past. Quality and affordability do not go hand in hand and hence most dairy farmers could not get their hands on the best of the products. We are trying to change this through our deeper understanding of animal nutrition, chemistry and biotechnology and are focused to reduce the feed costs while ensuring better quality feeds to our livestock farmers,” said Nikhil Bohra, Founder and CEO of Krimanshi.
Founded in 2015, Krimanshi is working in animal feed production, primarily in dairy, and is bringing innovation by establishing a new supply chain for unconventional ingredients in the animal nutrition sector.
The startup is expanding production capacities across Rajasthan and Karnataka and would also cater to the feed market in Tamil Nadu, Telangana, Andhra and North East. It also claims to have a wider economic, social and environmental impact, with farmers reporting up to 20 percent increase in milk production, transforming agri and food waste into nutritious cattle which results in saving of CO2 emissions and creating new jobs in establishing unconventional feed ingredients supply chains.
On being asked about the deployment of funds, Nikhil added, “We will use the fresh capital to set up our feed production plants, venture into poultry and fish segment and scale-up food and agri waste upcycling capacity. We will also be focusing to build a strong sales team and distributor network in Rajasthan and Karnataka and digitize feed transactions.”
RVCF, a venture capital firm based out of Jaipur, is currently investing out of its third fund and invests in early and growth stage transformative companies in Agri/Food, IT/ITES, Healthcare, Education space etc.
“Krimanshi has built cost-effective nutritive feed solutions for milch animals all-round the year by upcycling food waste. It is further expanding into poultry and aqua feeds. Nikhil and his team are well equipped to provide solutions to feed the burgeoning livestock population in the country," said Gaurav Chowdhry, Vice President at RVCF.