MoooFarm’s 10X revenue growth led to a €2.1m seed round by Accel India, Rockstart and Navus Ventures
- Funding will help accelerate MoooFarm’s vision to build sustainable food systems for 100 million dairy farmers and 1 billion consumers
- The funding round was led by Accel India with participation from Rockstart and Navus Ventures
Amsterdam, January 28, 2022: Rockstart, global early-stage investor, announces its co-investment in Mooofarm. The agritech startup offering technical solutions for dairy farmers, has raised €2.1m ($2.4m) in a seed round. The funding was led by Accel India with participation from Rockstart’s AgriFood fund and Navus Ventures.
The company empowers small-scale dairy farmers by connecting them to high yielding cattle, qualified veterinarians, access to insurance/ financial services and digital advisory services through MoooFarm mobile application and a network of village level micro-entrepreneurs. MoooFarm, co-founded by Param Singh, Aashna Singh, Abhijeet Mittal and Jitesh Arora from IIT Roorkee and London School of Economics and winners of Forbes Asia 2021 30 under 30, is organising the pre-farm gate dairy sector for a large and unexplored market which constitutes almost 4.6% of India’s GDP.
This investment will help accelerate our vision to build sustainable food systems for 100 million dairy farmers and 1 billion consumers. We will use the fresh capital for hiring the best tech talent, significantly grow revenue and expand on operational locations. Over the last 2 quarters, we have seen a 30% month-on-month revenue growth with realised Annual Revenue Run-rate of 100 crore.Param Singh, Founder & CEO, Mooofarm
Mooofarm’s team brings strong operational and technical expertise to organise over $50B pre-farm gate dairy sector in India. We were impressed by their razor sharp focus to build a business with strong unit economics and profitability while also positively impacting the lives of small dairy farmers in IndiaPrashanth Prakash, Senior Partner from Accel India
Since our involvement with Mooofarm in 2020, the team has shown strong traction while expanding their innovative offering to Indian smallholder farmers. We are happy to join forces with Accel, Rockstart and the other investors in continued support of this promising and impacting ventureEduard Meijer from Navus Ventures
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. We are excited to have Accel compliment Rockstart, Navus and the management board.Mark Durno, Managing Partner Agrifood, Rockstart