The company that offers technical solutions for dairy farmers will use the fresh capital for hiring the top tech talent, significantly grow revenue and expand on operational locations.
Founded in 2019 by Param Singh, Aashna Singh, Abhijeet Mittal & Jitesh Arora, MoooFarm is organising the pre-farm gate dairy sector for a large and unexplored market which constitutes almost 4.6% of India’s gross domestic product.
“Over the last two quarters, we have seen a 50% month-on-month revenue growth. The revenue for FY22 is projected to be Rs 30 crore, almost 10x the revenue from FY21,” CEO Param Singh said.
The company that focuses on strong unit economics and profitability empowers small-scale dairy farmers by connecting them to high yielding cattle, qualified veterinarians, access to insurance/financial services and digital advisory services through its mobile app and a network of village level micro-entrepreneurs.
“MoooFarm’s team brings strong operational and technical expertise to organise over $50 billion pre-farm gate dairy sector in India,” said Prashanth Prakash, senior partner at Accel India.
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The MoooFarm app has been downloaded by over 1 million dairy farmers across India in more than 10 states.
“The team has shown strong traction while expanding their innovative offering to Indian smallholder farmers,” said Eduard Meijer from Navus Ventures.