Dairy technology startup Stellapps recently raised $26 million in its latest Series C funding round to expand its mooMark brand, which focuses on delivering sustainable and traceable dairy products. This fresh capital, a mix of equity and debt financing, will accelerate the growth of Stellapps’ “mooMark” division, which specializes in contract manufacturing and private-label dairy products.
Long-term investors, including Blume Ventures, Omnivore, and the Bill & Melinda Gates Foundation, alongside new partner Miledeep Capital, provided support. The U.S. International Development Finance Corporation (DFC) supplied additional debt funding, reinforcing Stellapps’ aim to bring high-quality dairy solutions to Indian and global markets.
“Stellapps to us stands for traceability and quality dairy products. The recent funding will enable them to rapidly increase demand for their Value-Added Dairy Products (VADP), positioning them as a formidable profitable supplier in the market,” said Vikram Gawande, Lead — Growth Investments, Blume Ventures.
Backed by Global Investors, Stellapps Charts New Horizons
The Series C funding marks a significant milestone for Stellapps, following a three-year break from fundraising since its $18 million pre-Series C round led by Nutreco in 2021. The latest financing brings Stellapps’ total raised to nearly $50 million, supporting its mission to enhance India’s dairy sector through innovation and technology.
CEO Ranjith Mukundan expressed gratitude for the continued backing of existing investors and the addition of new ones. He emphasized that this capital would expand the reach of Stellapps’ mooMark products across India and globally, focusing on delivering high-quality, sustainable dairy products.
Kiran, Chief Strategy Officer, Miledeep Capital, said, “Miledeep is excited to have invested in Stellapps as they work towards bringing traceability and sustainability across the dairy supply chain. We are proud to be part of this journey, supporting Stellapps and their brand ‘mooMark’ in their mission to offer high-quality, traceable dairy products that empower farmers, reduce environmental impact, and transform the dairy ecosystem,”
mooMark: A Vision for Sustainable and Traceable Dairy
Launched initially as a Dairy IoT solutions provider, Stellapps has evolved significantly, expanding its expertise into private-label and contract manufacturing under the “mooMark” brand. mooMark’s dairy products are distinct because of their commitment to sustainability and traceability, made possible through a unique low-capex, tech-powered model.
Designed to meet the needs of FMCG, D2C, and HoReCa businesses, mooMark offers premium dairy solutions that align with net zero and sustainability goals, empowering these businesses to provide products with a smaller carbon footprint.
Stellapps’ innovative tech stack ensures full traceability of mooMark products, reinforcing transparency from farm to consumer. This capability strengthens Stellapps’ appeal to sustainability-conscious markets. It allows for efficient contract manufacturing processes, setting mooMark apart from traditional dairy suppliers.
Building a Digital-Driven, Farmer-Centric Dairy Ecosystem
With its dairy technology deployed in over 42,000 villages, Stellapps empowers approximately 3.5 million farmers by digitizing the movement of over 14 million liters of milk daily. The tech solutions offered by Stellapps drive operational efficiency, allowing farmers to access real-time data and enhance milk production quality. Stellapps aims to position mooMark as a go-to name in value-added dairy products, known for its commitment to sustainability and quality.
Stellapps reported a revenue of about INR 360 crore in FY24 and anticipates INR 400 crore for FY25, showcasing its expanding influence in India’s dairy sector. The brand’s growth is part of a larger industry trend, with notable dairy players like Country Delight, Akshayakalpa, and Sid’s Farm also attracting investment as demand rises for high-quality, sustainable dairy products.
With the new funding, Stellapps aims to strengthen mooMark’s export capabilities, bringing its sustainable and traceable dairy products to a broader global audience. The company’s success demonstrates a strong market appetite for traceable dairy solutions that uphold ethical and environmental standards.
As Stellapps moves forward, it will continue to focus on scaling operations and deepening its impact on India’s dairy ecosystem, providing farmers with the tools needed to improve yield while promoting sustainable practices.
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