Stellapps Secures USD 26 Mn in Series C to Power Dairy Tech and Sustainability With the new funds, the brand aims to scale operations, expand sustainable dairy products in India, and strengthen its export segment.
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Bengaluru-based dairy-tech firm Stellapps Technologies has raised USD 26 million in its Series C funding round, a mix of both equity and debt financing. The round saw participation from existing investors, including Blume Ventures, Omnivore, the Bill and Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups, and Blue Ashva Capital, along with a new investor, Miledeep Capital.
Debt funding was provided by the US International Development Finance Corporation (DFC). This fresh round comes after a three-year hiatus, with the company previously raising USD 18 million in a pre-Series C round from Nutreco in October 2021. Stellapps has now raised over USD 50 million to date.
The company is also backed by prominent investors like Celesta Capital, Qualcomm Ventures, ABB Technology Ventures, and Binny Bansal.
Ranjith Mukundan, CEO of Stellapps, said, "We are excited to receive continued commitment from our existing investors and welcome new investors as part of our Series C round. This capital will help mooMark scale its value-added dairy product offering across India sustainably and strengthen its export segment moving forward."
Founded in 2011, Stellapps has evolved from providing dairy IoT solutions to becoming a key player in the value-added dairy product (VADP) space with its brand, mooMark. The company initially focused on building a Digital Access Network (DAN) that offers end-to-end digitised supply chain solutions.
Over the years, Stellapps has leveraged its tech expertise in advanced analytics and artificial intelligence to partner with financial and insurance institutions, veterinary services, and cattle nutrition providers, among others. These partnerships have created value for small farmers and stakeholders in the dairy ecosystem.
Stellapps has positioned itself as a leader in contract manufacturing and private labeling of traceable VADP. mooMark utilises a tech-powered, low-capex approach to deliver premium products to Indian and global customers. Its cutting-edge technology ensures product traceability and sustainability, reducing carbon footprints at the farm level. This is particularly appealing to FMCG, D2C, and HoReCa businesses, enabling them to offer premium dairy products that align with their Net Zero goals.
Stellapps' dairy-tech solutions are deployed in over 42,000 villages across India, digitising the flow of more than 14 million liters of milk every day. With its extensive reach and experience, mooMark sources high-quality, traceable milk and processes it into value-added dairy products.
Vikram Gawande, Lead of Growth Investments at Blume Ventures, commented, "Stellapps stands for traceability and quality. Ranjith and his team have built a strong network for traceable milk using their technology. This funding will help them meet the growing demand for VADPs."
Reihem Roy, Partner at Omnivore, added, "India's dairy sector is vital to the economy, contributing 6.5% to the GDP. We're thrilled to continue our partnership with Stellapps as they scale high-quality, traceable dairy products while supporting farmers."
As mooMark scales its operations, Stellapps continues to strengthen its vision of a sustainable future for India's dairy farmers. The company remains committed to enabling brands in the FMCG, D2C, and HoReCa sectors to offer differentiated dairy products while promoting sustainability and traceability.
