Gurugram-based agritech and dairy startup MoooFarm has raised $13 million in a Series A round headed by Aavishkaar Capital. Accel Partners, Aditya Birla Ventures, Rockstart, Navus Ventures, and Alteria Capital also participated in the funding round.
The company plans to use the funding 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 utilize 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 works to improve the livelihoods of India’s marginalized dairy farmers and increase their profitability. It offers a dairy farm management app in the farmer’s vernacular language. According to the company, the app makes buying inputs (such as cattle feed and grain) more reliable and gives farmers access to veterinary care and dairy farming techniques.
A MoooSathi, a village-level entrepreneur who provides last-mile aggregation and demand servicing support, ensures the delivery of these services to the farmer.
By FY2023–2024, MoooFarm aims to increase its revenue to Rs 300 crore and expand its network of MoooSathis to 3,000.
Sushma Kaushik, a Partner at 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.”