Stellapps raises Rs 210 cr from Blume Ventures Bill Melinda Gates Foundation others

New Delhi, Oct 21 (PTI) Dairy-tech startup Stellapps Technologies has raised Rs 209.79 crore in equity and debt from Blume Ventures, Bill & Melinda Gates Foundation, and other investors to accelerate its mooMark business.
    A wholly-owned subsidiary of Stellapps, mooMark is focused on contract manufacturing and private labelled dairy business of high-quality dairy products. It provides end-to-end services, from sourcing milk directly from farmers to processing and delivering finished products.
    "This capital will help mooMark scale its value-added dairy product offering to its customers across India in a sustainable manner and strengthen its export segment going forward," Stellapps CEO Ranjith Mukundan said.
    The funding round saw participation from existing investors Blume Ventures, Omnivore, Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups & Blue Ashva Capital, and new investor Miledeep Capital, with debt funding provided by the US International Development Finance Corporation (DFC).
    Stellapps Technologies is an IIT Madras incubated farm-to-consumer dairy digitisation service provider. The Bengaluru-based company services over 3.5 million farmers across 42,000 villages, facilitating delivery of 14 million litres of milk daily.

(This story has not been edited by THE WEEK and is auto-generated from PTI)