Stellapps, one India’s end-to-end dairy technology solutions providers, has raised an undisclosed amount from IDH FarmFit. Stellapps and IDH Farmfit Fund have entered into a first-of-its-kind partnership as a result of this investment. The dairy-tech startup Stellapps is challenging the status quo of India’s dairy ecosystem through its tech-first, platform-based dairy supply chain services. The increasing milk demand and the huge untapped potential for milk production offer ample opportunities for continuous growth for Stellapps.
Since its inception in 2011, the dairy-tech startup expects to raise farmers’ net income by improving productivity in the value chain, enhancing milk quality, and enabling traceability. The dairy-tech startup is creating a digital highway and access network to enable the delivery of value-added services like credit, insurance, extension and agri-inputs. Women constitute 83 per cent of dairy farmers in India. Stellapps has committed to promoting female leadership throughout the dairy value chain as it expands its reach in India.
Ranjith Mukundan, Chief Executive Officer, Stellapps, said, “The investment will contribute towards building out our vision of creating a digital ecosystem that enables smallholder farmers to become entrepreneurs. This involves enabling easy and timely access to extension services, quality cattle nutrition, financial services and market linkage. We look forward to learning from the rich experience of IDH FarmFit Fund to drive a significant impact in the Indian agriculture sector.”
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Varishna Tewarie, IDH Farmfit Fund’s investment manager for Asia, said, “We are delighted to support Stellapps with this new investment, which will improve farmers’ income and positively impact their lives. We shall witness the transformation of one of India’s most crucial agricultural sectors. The company supports smallholder Indian farmers by increasing transparency, improving farming practices and enabling financial inclusion.”
Agribusiness drives India’s economy and dairy is its aorta. since it employs more than 40 per cent of the agri-workforce and contributes the greatest percentage to agricultural GDP. The Indian dairy sector is the largest in the world, contributing 22 per cent of global milk production. The Indian dairy and livestock sector is a US$225 billion industry and contributes to 7.6 per cent of India’s GDP.