Stellapps secures $18 million in funding led by Nutreco
- ByStartupStory | October 26, 2021
Stellapps, a dairy technology startup based in Bangalore, has raised a total of US$18 million in Series C funding led by aquaculture and animal nutrition company Nutreco. Qualcomm Ventures, Celesta Capital and ABB Technology Ventures also participated in the round.
The company plans to use the funds to rapidly expand its traceability network and expand its digital footprint across India.
Ranjith Mukundan, CEO of Stellapps, “Our vision is to unlock unprecedented value in the dairy supply chain for all stakeholders, especially smallholder farmers. Our mission is to bring India’s smallholder farmers into the agribusiness orbit by enhancing productivity, improving quality and enabling traceability through our smartMoo solutions.
Founded in 2011 by Ranjith Mukundan, Ravishankar G. Shiroor, Praveen Nale, Ramakrishna Adukuri and Venkatesh Seshasayee, Stellapps is a provider of dairy digitization services from farm to customer, improving productivity and quality, and ensuring end-to-end traceability. throughout the dairy supply chain. Its award-winning smartMoo technology solutions improve milk yield, quality and enable traceability. By enabling ecosystem partners through its online platform, Stellapps enables farmers to provide them with timely access to financial services, quality nutrition and veterinary care. Stellapps FinTech branch mooPay facilitates the financial inclusion of smallholder farmers by giving them access to digital payments, banking, savings, withdrawals cash, credit and insurance.
Last year, Stellapps was one of two Indian companies on the World Economic Forum’s list of technology pioneers. The organized milk market grew to GR 20 in India while value-added products grew to GR 25. Stellapps is evolving rapidly to address current gaps in the dairy value chain and assist farmers with its solutions.
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