Organic dairy startup Akshayakalpa Organic on Thursday said it has raised USD 15 million (about Rs 120 crore) from investors for growth.
British International Investment, the UK’s development finance institution, Rainmatter Foundation, and its existing investor Venture Dairy have joined the Series B funding round, the company said in a statement.
Before this, Akshayakalpa Organic raised funding from Lok Capital and Venture Dairy in July 2019.
Founded by GNS Reddy and Shashi Kumar, Akshayakalpa Organic is one of the leading organic milk producers in the country.
Akshayakalpa plans to aggressively invest in Bengaluru, Chennai, and Hyderabad markets.
It is also planning to expand into new geographies of Pune, Mumbai and Kochi and take its dairy products pan India.
It currently works with over 750 farmer families. It supplies organic milk and milk products to 60,000+ consumers daily in Bengaluru, Hyderabad, and Chennai through its direct delivery platform. Its products are available across 2,000 retail outlets and all the major e-commerce/quick commerce platforms.
“Over the last few years, consumers have become more conscious about living healthier lifestyles. With support from British International Investment, Rainmatter, and Venture Dairy, we hope to continue retaining the uncompromised quality of our products.
“We will continue to serve more customers while deepening our efforts to create sustainable farming systems and restore dignity to rural India,” said Shashi, co-founder and CEO at Akshayakalpa Organic.