ImpactAlpha, Jun 1 – India is the world’s largest milk producer, with most of its production coming from smallholder dairy farmers with just a few animals.
Bangalore-based Stellapps Technologies makes systems — including a variety of sensors — to improve transparency and efficiency along the milk supply chain. The systems track dairy farm operations, help farmers and dairy collectors measure milk output and quality, and relay data between farmers and collectors. The company also offers a digital payments tool.
- Series B… Stellapps’ $14 million funding round was backed by the Gates Foundation, Qualcomm Ventures and ABB Technology Ventures along with Omnivore Partners, Blume Ventures, Venture Highway and BEENEXT.
- New investment territory… Stellapps’ Series B round is the Gates Foundation’s first equity investment in India, AgFunderNews reports.
Omnivore’s follow-on investment in Stellapps is the latest in a recent spate of deals from the Indian impact investor. Earlier this year, it raised $46 million for its second agriculture fund and has since invested in Doodhwala, another dairy industry startup, crop data firm AgNext, and aquaculture tech Eruvaka.