Stellapps Technologies Raises Rs 210 Crore to Expand MooMark Business

Dairy-tech startup Stellapps Technologies secures Rs 209.79 crore from investors including Blume Ventures and the Bill & Melinda Gates Foundation to boost its mooMark venture. This subsidiary focuses on sustainable contract manufacturing of high-quality dairy products, enhancing domestic and export markets across India.

Stellapps Technologies, a dairy-tech startup, has successfully secured equity and debt funding amounting to Rs 209.79 crore. The infusion comes from notable investors such as Blume Ventures and the Bill & Melinda Gates Foundation, aimed at accelerating its mooMark business.

MooMark, a subsidiary wholly owned by Stellapps, focuses on the contract manufacturing and private labeling of high-quality dairy products. The venture offers comprehensive services, spanning from milk sourcing directly from farmers to processing and delivering finished products.

CEO Ranjith Mukundan stated the fresh capital would bolster mooMark's product offering and support expansion within domestic and export markets. The financing round included participation from existing and new investors like Miledeep Capital, along with debt funding from the US International Development Finance Corporation. Stellapps serves over 3.5 million farmers across 42,000 villages, processing 14 million liters of milk daily.

(With inputs from agencies.)