Stellapps Technologies, a dairy-tech startup based in Bengaluru, has raised $26 million in a Series C funding round. The round included a mix of equity and debt from existing investors such as Blume Ventures, the Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups, and Blue Ashva Capital. The debt portion was provided by the U.S. International Development Finance Corporation.
The funds will be used to accelerate the growth of Stellapps’ mooMark business, which focuses on contract manufacturing and private-label dairy products that are high-quality, sustainable, and traceable. Ranjith Mukundan, CEO of Stellapps, said, “This capital will help mooMark scale its value-added dairy product offering to its customers across India in a sustainable manner and strengthen its export segment going forward.”
Stellapps began at IIT-Madras and provides IoT-based dairy solutions.
Stellapps plans dairy product expansion
The company’s tech stack enhances traceability and sustainability in mooMark products, reducing the carbon footprint at the farm level. This enables FMCG, D2C, and HoReCa businesses to offer premium, unique dairy products that align with Net Zero goals. Reihem Roy, Partner at Omnivore, said, “Omnivore is a strong believer in India’s dairy sector which represents a colossal 6.5% of the nation’s GDP.
We are excited to continue our partnership with Stellapps in their endeavor to provide high-quality value-added dairy products at scale while uplifting the industry with traceability, sustainability, and farmer-first solutions.”
Stellapps’ solutions have been deployed in over 42,000 farms, facilitating the daily movement of over 14 million liters of milk. The company has received support from various investors, including Celesta Capital, Nutreco, Qualcomm Ventures, ABB Technology Ventures, Venture Highway, Binny Bansal, BEENEXT, and Arun Seed. James Polan, DFC’s vice president of health and agribusiness, noted, “DFC’s loan to mooMark Private Limited will support the expansion into fully traceable value-added dairy product offerings and promote the inclusion of at least 200,000 smallholder dairy farmers in mooMark’s supply chain.”
Som Toohey and Melinda Gróf, investment managers at IDH Farmfit Fund, added, “By scaling mooMark, Stellapps continues to enhance supply chain transparency and reduce environmental impact, aligning with our mission to support sustainable agricultural practices and inclusive business models that improve smallholder farmer livelihoods.”
