Total amount raised
$63.6 Millions
Latest funding date
10/01/2024
Location
Stellapps has successfully raised $26 million in Series C funding to enhance its dairy technology and sustainability efforts. The company is backed by 18 investors, including notable names like U.S. International Development Finance Corp and IDH.
Keep reading to explore the intricacies of Stellapps' fundraising journey and the investors backing this innovative platform.
What Is Stellapps?
Stellapps, founded in 2011, is a pioneering company in the AgTech industry, specializing in dairy management software applications. Headquartered in Bangalore, Karnataka, India, the company leverages IoT, big data, cloud, mobility, and data analytics to enhance various aspects of the dairy supply chain.
The company was founded by Jinesh Shah, Praveen Nale, Ramakrishna Adukuri, Ranjith Mukundan, Ravishankar Shiroor, and Venkatesh Seshasayee. With an employee count ranging from 101 to 250, Stellapps continues to innovate and improve dairy supply chain parameters, benefiting dairy farms, farmers, and cooperatives.
How Much Funding Has Stellapps Raised?
- Series A
- Amount Raised: $1M
- Date: March 2015
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and scale their dairy management software applications.
- Series A
- Amount Raised: $460K
- Date: April 2016
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance their technology and expand their market reach.
- Series A
- Amount Raised: $2M
- Date: July 2017
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Series B
- Amount Raised: $14M
- Date: May 2018
- Lead Investors: Bill & Melinda Gates Foundation, IndusAge Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their technology and reach more dairy farmers.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their financial stability and support ongoing projects.
- Series C
- Amount Raised: $18M
- Date: September 2021
- Lead Investors: Nutreco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product line and improve supply chain efficiency.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: IDH
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainable dairy farming initiatives.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2024
- Lead Investors: U.S. International Development Finance Corp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance dairy technology and sustainability efforts.
- Series C
- Amount Raised: $26M
- Date: October 2024
- Lead Investors: U.S. International Development Finance Corp, IDH
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the mooMark business and scale value-added dairy product offerings.
Total Amount Raised: $61.46M. Current Valuation: Not publicly disclosed.
Key Investors
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that invests in early-stage startups across various sectors in India.
- Investment Focus Areas: Early-stage technology startups, healthcare, education.
- Notable Investments: Dunzo, Unacademy, GreyOrange.
- Omnivore
- Details: Omnivore is a venture capital firm focused on agri-tech startups that are transforming food and agriculture systems.
- Investment Focus Areas: Agriculture, food systems, agri-tech.
- Notable Investments: DeHaat, AgNext, Fasal.
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a philanthropic organization that funds initiatives in global health, development, and education.
- Investment Focus Areas: Global health, development, education.
- Notable Investments: Gavi, the Vaccine Alliance, CureVac, Impossible Foods.
- IDH Farmfit Fund
- Details: IDH Farmfit Fund is an investment fund focused on improving the livelihoods of smallholder farmers through sustainable agriculture.
- Investment Focus Areas: Sustainable agriculture, smallholder farmers, rural development.
- Notable Investments: Various agricultural and rural development projects.
- U.S. International Development Finance Corporation (DFC)
- Details: The U.S. International Development Finance Corporation is a U.S. government agency that provides financing for development projects in emerging markets.
- Investment Focus Areas: Development projects, economic growth, infrastructure.
- Notable Investments: Various infrastructure, health, and development projects globally.
What's Next for Stellapps?
Stellapps is poised to capitalize on significant opportunities in the dairy sector, particularly through the expansion of its mooMark business. With a focus on contract manufacturing and private-label dairy products, the company aims to enhance traceability and sustainability, impacting over 3.5 million farmers across 42,000 villages. The potential to strengthen its export segment and meet the growing demand for value-added dairy products positions Stellapps for substantial growth.
Future fundraising opportunities appear promising as Stellapps continues to attract interest from both existing and new investors. The company's commitment to sustainability and traceability aligns well with current industry trends, making it an attractive prospect for impact investors. However, challenges such as managing operational losses, maintaining high-quality standards, and navigating regulatory complexities could pose hurdles as Stellapps scales its operations.
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