[Funding alert] Milk startup Puresh Daily raises Rs 1.2Cr in seed round
The Ranchi-based milk startup will use the funds to expand its product base to at least 10 Tier II cities to 20,000 subscribers.
Ranchi-based— which provides dairy and fresh farm produce to end-customers in 'Bharat' — on Saturday said it raised Rs 1.2 crore in its seed round from Dhianu Das of Alfa Ventures and Agility Venture Partners.
"We're charged with the investors' confidence as they oversubscribed our startup during this seed round. With these funds, we will expand our product base to at least 10 Tier II cities to 20,000 subscribers and partner with different entrepreneurs," said Manish Piyush, Founder, Puresh Daily.
The BITS and IIM-alumni also handles the marketing and business development for the dairy startup. Having worked in different parts of the world, Piyush brings in 14+ years of leadership experience as a TAS officer at the TATA Group.
Founded by Manish Piyush and Aditya Kumar in 2019, Puresh Daily offers a subscription for milk produce, providing from its eight franchise farms to 1,200 subscribers in three cities — Ranchi, Ramgarh, and Bokaro.
The startup also offers chemical-free products through value chains augmented by AI. This allows it to provide traceable logistics, green packaging, and smart payment options.
"We expect the Farm-to-Home space to explode in the coming months. Biggies like Tatas and Reliance are entering the market through investments and acquisitions too. By incubating our business model at Ranchi, we've proved that consumers from the so-called 'Bharat' are ready and willing to pay a premium for such services,” added Aditya Kumar, Co-founder, Puresh Daily.
Aditya, a BITS alumni also handles the technology, finance, and product development for the startup.
Puresh Daily will use the fresh funds to invest in business development, technology, and brand building. "We also want to invest our time and resources in innovation in products and packaging,” Aditya added.
According to Prashant Narang, Founder, Agility Venture Partners, "First, milk is a recession-free business, capable of growth in COVID-19 times. It's also highly unorganised, with several dairy farms in dire need of upgradation and market reach. Their idea has enormous potential.”
Edited by Suman Singh