Bengaluru-based dairy IoT startup Stellapps Technologies Pvt. Ltd has raised Series A funding ahead of a larger $12 million – $14 million Series B funding in the coming months.
The current round of funding was led by Blume Ventures and other High profile investors which include Flipkart Group CEO Binny Bansal and Venture Highway, which is advised by WhatsApp global business head Neeraj Arora.
Stellapps was founded in April 2011 by Ranjith Mukundan, Praveen Nale, Ravishankar Shiroor, Ramakrishna Adukuri, and Venkatesh Seshasayee. The startup develops solutions and offers data collection and analytics to every piece of the dairy supply chain with the aim of improving the productivity, and quality of milk, and producing transparent data both for and about the dairy industry.
Many applications are available on its platform, including SmartFarms (milk production), smartAMCU (milk procurement), ConTrak (milk cold chain), AgRupay (dairy farmer wallet) and MooKare (animal insurance). Further, the company claims to have built a full-stack IoT platform that spans the entire value chain, including precision farming, milk procurement, cold chain logistics, and processing.
“We are thrilled to be working with Blume Ventures, Binny Bansal and Venture Highway as we bring transparency, data analytics, and machine learning to the global dairy industry,” Mukundan said to VCCircle.
In 2014, India’s dairy industry grew to be larger than that of the rest of the world combined and the country has been the world’s largest dairy producer since 1997. Much of this production is made up of smallholder farmers. Since the majority of India’s dairy farmers are smallholders, Stellapps has created a system affordable for farms of any size, even those with only one or two cows.
Stellapps has many dairy clients operating in India, Nepal, Kenya, Bulgaria, Russia and France. Earlier in 2013, the company was backed by venture capital firm Omnivore Partners and received $1 million in Seed Round. It was initially incubated at the Rural Technology Business Incubator in IIT Madras.
“We are proud to see the company aggressively scaling up and receiving funding from some of India’s leading venture capitalists,” said Jinesh Shah, one of the co-founders of Omnivore.
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