The fresh capital infusion is set to fuel the company’s ambitious expansion plans, including scaling up its value-added dairy products (VADP) manufacturing components and enhancing processing capabilities across India.
Ranjith Mukundan, CEO of Stellapps, stated, “With this fundraising, we plan to expand our VADP manufacturing components and invest in additional processing capacity across India. We already have some capacity in Bengaluru and UP, but the idea is to expand it across India.
This will allow us to offer services to key players such as Amazon Fresh and Zomato, ensuring that when they launch nationally, our services are well established across the country. The objective is to expand our processing footprint, boost procurement capabilities and become a truly pan-India player driving FMCG customers.”
Stellapps has been at the forefront of transforming India’s dairy industry, leveraging the technological roots that were cultivated during its incubation at IIT Madras. Currently, the company digitizes more than 14 million liters of milk across 42,000 villages in India. Stellapps also licenses its technology to major dairy operators such as Amul, Mother Dairy and Heritage, addressing critical issues in India’s dairy supply chain, including productivity, quality and traceability.
Mukundan emphasized the importance of these solutions in India’s fragmented dairy supply chain, which relies heavily on smallholder farmers. “Milk travels long distances from remote villages to a cup of tea or paneer on the plate. Ensuring that this milk remains free of residue, that no one monitors the system and that the cold chain remains intact is essential, as milk is a highly perishable commodity.
Our technology enables dairy operators to solve productivity, quality and traceability issues,” Mukundan said. Stellapps is also exploring opportunities to replicate its success internationally, with talks underway to roll out its technology in Morocco, Brazil and Europe.
In terms of financial performance, Stellapps reported revenue of Rs 360 million in FY24. The company expects its revenue to remain stable between Rs 350 million and Rs 400 million for FY25 as its Current focus is on improving margins and achieving stability. “We aim to break even by September 2025,” Mukundan said, highlighting the company’s short-term financial target.
Additionally, Adarsh Narahari, Founder and CEO of Primus, discussed the company’s strategy to utilize its recent $20 million fundraising. The funding round was led by General Catalyst, with contributions from prominent investors including Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai.
Additionally, Vivek Gupta, Co-Founder of Licious, shared his thoughts on the company’s financial performance for FY24 and outlined the company’s future plans.
Watch the attached video to learn more.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.