Total amount raised
$63.6 Million
Latest funding date
10/01/2024
Location
Stellapps has successfully raised funding over 12 rounds, with the latest being a Series C round. The company is backed by 18 investors, including U.S. International Development Finance Corp and IDH (The Sustainable Trade Initiative).
Keep reading to explore the intricacies of Stellapps' fundraising journey and the investors backing this innovative platform.
What Is Stellapps?
Stellapps, based in Bangalore, Karnataka, India, is a private company specializing in dairy management software applications. The company operates in various industries, including AgTech, Analytics, Apps, Farming, Internet of Things, and Software. Stellapps is currently in the Series C funding stage and employs between 101 and 250 people.
Stellapps leverages IoT technology to digitize the dairy supply chain, offering products and solutions for cattle monitoring, milk procurement, cold chain management, and supply chain optimization. Their innovative approach aims to enhance productivity, efficiency, and transparency in the dairy industry, benefiting both farmers and dairy businesses.
How Much Funding Has Stellapps Raised?
- Series A
- Amount Raised: USD 1,000,000
- Date: March 2015
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their dairy management software applications.
- Series A
- Amount Raised: USD 460,000
- Date: April 2016
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and improve technology.
- Series A
- Amount Raised: USD 1,976,500
- Date: July 2017
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product offerings.
- Series B
- Amount Raised: USD 14,000,000
- Date: May 2018
- Lead Investors: Bill & Melinda Gates Foundation, IndusAge Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their services.
- 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 maintain liquidity and support ongoing projects.
- Series C
- Amount Raised: USD 18,000,000
- Date: September 2021
- Lead Investors: Nutreco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product line and enhance technological capabilities.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: IDH
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth and market expansion.
- Series C
- Amount Raised: USD 26,000,000
- Date: October 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the mooMark business and expand product offerings.
- 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 support the expansion of mooMark and enhance financial stability.
Total Amount Raised: USD 61,436,500. Current Valuation: Not publicly disclosed.
Key Investors
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that invests in early-stage startups. They are known for supporting innovative companies in India.
- Investment Focus Areas: Early-stage technology startups, various sectors.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Omnivore
- Details: Omnivore is a venture capital firm focused on agriculture and food technology startups. They aim to transform food systems through technology.
- Investment Focus Areas: Agriculture, food technology.
- Notable Investments: DeHaat, AgNext, Reshamandi.
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a philanthropic organization that funds initiatives in global health, development, and education. It is one of the largest private foundations in the world.
- Investment Focus Areas: Global health, development, education.
- Notable Investments: Gavi, the Vaccine Alliance, Global Polio Eradication Initiative.
- IDH Farmfit Fund
- Details: IDH Farmfit Fund is an investment fund focused on sustainable agriculture. They aim to improve the livelihoods of smallholder farmers.
- Investment Focus Areas: Sustainable agriculture.
- Notable Investments: Various agricultural and rural development projects.
- 500 Startups
- Details: 500 Startups is a global venture capital firm and seed accelerator. They have a strong track record of supporting early-stage technology companies.
- Investment Focus Areas: Technology startups, various sectors.
- Notable Investments: Canva, Credit Karma, Udemy.
What's Next for Stellapps?
Stellapps is poised to capitalize on the burgeoning demand for high-quality, sustainable dairy products. With its mooMark business, the company aims to scale its value-added dairy offerings across India and strengthen its export segment. The opportunity is vast, given Stellapps' presence in over 42,000 villages and its daily movement of 14 million liters of milk.
Future fundraising seems promising, as the recent $26 million Series C round indicates strong investor confidence. This capital will likely support further expansion and technological advancements, making Stellapps an attractive candidate for additional investment rounds. However, the company must navigate challenges such as maintaining sustainability and traceability while scaling operations and managing a complex supply chain involving smallholder farmers.
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