Bengaluru-based dairy tech firm Stellapps Technologies has raised $26 million in its Series C funding round, a mix of equity and debt. Investors in this round include Blume Ventures, Omnivore, the Bill & Melinda Gates Foundation, and new investor Miledeep Capital. Debt funding came from the U.S. International Development Finance Corporation (DFC).
This marks Stellapps’ return to fundraising after a three-year gap, following its $18 million pre-Series C round in 2021. In total, the company has raised nearly $50 million to date.
Stellapps, initially known for its Dairy IoT solutions, has expanded its operations into contract manufacturing and private-label dairy products under the brand “mooMark.” The fresh funds will help the company expand its value-added dairy product offerings across India and boost its export business.
The company’s tech-driven approach ensures traceability and sustainability in its products, which helps reduce the carbon footprint at the farm level. Stellapps serves over 3.5 million farmers across 42,000 villages, digitizing over 14 million liters of milk daily.
Stellapps reported a revenue of Rs 360 crore in FY24 and is aiming for Rs 400 crore in FY25.
