Dairytech startup, MoooFarm has raised $ 2.4 million in a seed funding round led by Accel India, as announced on January 28, 2022. Rockstart’s AgriFood fund and Navus Ventures also participated in the round.
The startup has plans to use the funds raised to hire the new top technology talent. The startup also plans to use a portion of the funds raised to grow the startup’s revenue and make expansions on operational locations.
MoooFarm was founded in 2019 by Param Singh, Aashna Singh, Abhijeet Mittal, and Jitesh Arora and has its headquarters in Gurugram, Haryana. The people who work at the startup are driven by the idea that the optimum results are born out of perseverance, determination, and strong-team connection.
The startup is about a group of young, dynamic, and optimistic individuals who come from a diverse range of backgrounds and experiences, but with the Mutual goal- to empower the Dairy Farmers.
The MoooFarm app has over a million downloads
MoooFarm connects small-scale dairy farmers to high-yielding cattle qualified veterinarians, insurance and financial services and digital advisory services through its mobile application and network of “micro-entrepreneurs.”
The MoooFarm app has seen over a million downloads on the Google Play Store by dairy farmers across the country in more than ten states. The startup claims to have increased its revenue by 10x in a year. It plans to deploy the funding towards accelerating customer acquisition.
“This investment will help accelerate our vision to build sustainable food systems for 100 million dairy farmers and 1 billion consumers,” said Param Singh, founder and CEO, Mooofarm.
“We will use the fresh capital for hiring the best tech talent, significantly grow revenue and expand on operational locations. Over the last two quarters, we have seen a 30 percent month-on-month revenue growth with realized Annual Revenue Run-rate of 100 Cr,” added Param Singh.
The startup aims to empower dairy farmers
The mission of the startup is to make farmers prosperous. To achieve this mission, the startup is building connected commerce to make sure India’s dairy sector is organized into a thriving and formal industry.
The values which the startup stands by are Trust, Farmer Love, Collaboration for the greater good, and Ascending Optimism. The startup is organizing the pre-farm gate dairy sector for a large and unexplored market that is a part of nearly 4.6 percent of the GDP of India.
“MoooFarm has a compelling vision for the Indian dairy industry, which matches Rockstart’s goal to support purpose-driven founders to drive a more connected, efficient and resilient food supply system. It’s been a pleasure to work with the MoooFarm team since our initial investment in 2020,” added Mark Durno, managing partner, Agrifood, Rockstart.