Akshayakalpa raises $15 million in funding

9 Sep 2022 , 08:52 AM

The organic dairy company Akshayakalpa Organic announced that it has raised $15 million in a Series B fundraising round from both current and new investors.

The UK’s development finance organization British International Investment (BII), the Rainmatter Foundation, and its current investor, Venture Dairy, have joined the Series B fundraising. The financing would support Akshayakalpa’s initiatives to advance and expand sustainable and regenerative farming while supplying its customers with top-quality organic milk.

Akshayakalpa intends to grow into new regions, including Pune, Mumbai, and Kochi, as well as invest in the Bengaluru, Chennai, and Hyderabad sectors. It intends to distribute its organic dairy products throughout the nation.

“Consumers have been more aware over the past few years of the need of leading healthier lifestyles, according to Shashi Kumar, co-founder, and CEO of Akshayakalpa Organic. “While intensifying our efforts to develop sustainable agricultural methods, we will continue to serve more clients, “Added he.

The sole financial advisor to Akshayakalpa and its stockholders was Veda Corporate Advisors. Before that, in July 2019, Lok Capital and Venture Dairy provided a Series A investment to Akshayakalpa Organic.

According to Akshayakalpa, it will be able to give its farmer entrepreneurial projects additional momentum. One of the main manufacturers of organic milk in the nation is Akshayakalpa Organic, which was founded by Dr. GNS Reddy and Shashi Kumar. It has had a substantial growth over the past five years, with a Compound Annual Growth Rate (CAGR) of 60%.

Over 750 farmer families are involved with the company. Through its direct delivery network, it provides organic milk and milk products to more than 60,000 customers each day in Chennai, Hyderabad, and Bengaluru. All of the main e-commerce and fast commerce platforms and more than 2,000 retail locations carry its items.

“Our funding will assist its (Akshayakalpa’s) development, raise productivity and improve farmer income while also offering sustainably farmed goods directly to more customers,” said Manav Bansal, general director, and head of India, BII.

The procedures that Akshayakalpa has in place to assure sustainable milk production and the support they provide to enhance farmer livelihoods are amazing, according to Nithin Kamath, founder, and CEO of Zerodha and Rainmatter.

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