Agritech startup MoooFarm raises $13M in Series A round led by Aavishkaar Capital
Gurugram-based agritech and dairy startuphas raised $13 million in a Series A round led by Aavishkaar Capital. The investment round also saw participation from Accel Partners, Aditya Birla Ventures, Rockstart, Navus Ventures, and Alteria Capital.
The company aims to use the investment to scale its operations in Rajasthan, Punjab, and Haryana and expand into Madhya Pradesh and Maharashtra.
In a statement, Param Singh, Founder and CEO, MoooFarm, said, “We aim to utilise this Series A funding to further expand our operations nationally and strengthen our capacity to cater to the growing needs of our farmer communities. MoooFarm offers an integrated, efficient and scalable dairy management solution that connects all stakeholders along the value chain, making our platform indispensable to improve efficiency, yield and profits.“
MoooFarm strives to empower marginalised dairy farmers and make dairy farming in India more profitable. It provides an app for dairy farm management in the farmers' vernacular language. According to the company, the app makes buying inputs (cattle feed and cattle) more reliable and gives farmers access to veterinary services and dairy farming techniques.
The distribution of these services to the farmer is ensured by a MoooSathi, a village-level entrepreneur, who provides last-mile aggregation and demand servicing support.
MoooFarm aims to grow the network of MoooSathis to 3,000 and increase its revenue to Rs 300 crore by FY2023-24.
Sushma Kaushik, Partner, Aavishkaar Capital, said, “MoooFarm has a vision to disrupt the dairy value chain through the right technological interventions, which opens up tremendous opportunities for small and marginal dairy farmers to improve their income while organizing this otherwise traditionally unorganized business. We are excited to partner with MoooFarm in their growth journey while building a large sale business which has the ability to positively impact millions of farmers across India."
Edited by Swetha Kannan