Dairytech startup MoooFarm raised $2.4 million in seed led by Accel India, where Rockstart’s AgriFood fund and Navus Ventures also participated
Founded in 2019 by Param Singh, Aashna Singh, Jitesh Arora, and Abhijeet Mittal, MoooFarm connects small-scale dairy farmers to high-yielding cattle qualified veterinarians, insurance and financial services and digital advisory services through its mobile application and network of “micro-entrepreneurs”.
The MoooFarm app has over a million downloads on the Google Play Store. The startup claims that it has increased its revenue by 10x in a year. It plans to deploy the funding towards accelerating customer acquisition.
“This investment will help accelerate our vision to build sustainable food systems for 100 million dairy farmers and 1 billion consumers. We will use the fresh capital for hiring the best tech talent, significantly grow revenue and expand on operational locations. Over the last two quarters, we have seen a 30% month-on-month revenue growth with realised Annual Revenue Run-rate of 100 Cr,” said Param Singh, founder & CEO, Mooofarm.
“MoooFarm has a compelling vision for the Indian dairy industry, which matches Rockstart’s goal to support purpose-driven founders to drive a more connected, efficient and resilient food supply system. It’s been a pleasure to work with the MoooFarm team since our initial investment in 2020,” added Mark Durno, managing partner, Agrifood, Rockstart.