MoooFarm, an agritech firm, has secured $2.4 million in a seed round headed by Accel India, with Rockstart's AgriFood fund and Navus Ventures also participating.
The company, which provides technical solutions for dairy farmers, plans to use the new funds to hire top IT talent, increase sales, and expand its operational locations.
MoooFarm, which was founded in 2019 by Param Singh, Aashna Singh, Abhijeet Mittal, and Jitesh Arora, is organising the pre-farm gate dairy sector for a big and untapped market that accounts for about 4.6 percent of India's GDP.
Aashna is a strong supporter of inclusive growth and is dedicated to providing farmers with a sustainable rural livelihood. She earned a Double Distinction in her post-graduate studies at the London School of Economics and the University of Sydney Business School after graduating with honours from Lady Shri Ram College, Delhi University. At the Agriculture Innovation Congress and Awards, Aashna was named one of the "Most Influential Agriculture Industry Professionals." Aashna ensures MoooFarm's smooth on-the-ground operations with her razor-sharp focus and fine execution skills.
“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,” says, CEO Param Singh.
Through its mobile app and a network of village level micro-entrepreneurs, the company, which 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.
"MoooFarm's team brings strong operational and technical expertise to organise India's pre-farm gate dairy sector, which is worth more than $50 billion," said Prashanth Prakash, a senior partner at Accel India.
Over 1 million dairy farmers in more than ten states in India have downloaded the MoooFarm app.
Navus Ventures' Eduard Meijer commented, “The team has shown strong traction while expanding their innovative offering to Indian smallholder farmers,”
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