Stellapps Technologies Raises $26 Million in Funding
Stellapps Technologies Raises $26 Million in Funding
Stellapps Technologies Raises $26 Million in Funding
News summary

Stellapps Technologies has successfully raised $26 million in a Series C funding round, consisting of both equity and debt financing, to boost its mooMark brand, which focuses on contract manufacturing and private-label dairy products. Key investors include Blume Ventures, Omnivore, the Bill & Melinda Gates Foundation, and new entrant Miledeep Capital, with debt support from the U.S. International Development Finance Corporation. The funds will enhance the scalability of mooMark's sustainable and traceable dairy offerings across India and strengthen its export capabilities. Stellapps, which began as a dairy IoT solutions company, has significantly impacted the dairy industry, reaching over 3.5 million farmers and facilitating the daily movement of more than 14 million liters of milk. The company reported a revenue of approximately Rs 360 crore in FY24 and targets Rs 400 crore for FY25. This funding marks a significant step in Stellapps' growth after a three-year hiatus since its previous capital raise.

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