The Odisha based startup dairy Milk Mantra is seemingly to receive funding of $10M (Rs.67Cr) led by the Neevs funds along with Eight Road Ventures and Aavishkaar. The funding rounds are undergoing and not confirmed yet.
Neevs Funds are funded by the country’s largest lenders, State Bank of India along with Eight Road Ventures and Aavishkar. Eight Road Ventures were previously know as Fidelity Growth Partners India. The previous funding of Milk Mantra in C series rounds of Rs 80 Crore were funded by Fidelity Growth Partners India and Aavishkar with an enable group of angle investors.
Milk Mantra has range of dairy products like Milky Moo, Curd, Paneer, Lassi, Buttermilk, Milkshakes and regular milk products. The company works with over 35,000 farmers to ensure high quality and fair rate products.
Milk Mantra currently runs processing plants in Gop, Konark, Hatibari and Sambalpur in Odisha.
Milk Mantra will use it latest funds to acquire high quality dairy products from the East of India, where most the business and manufacturing operations takes place. The CEO of Milk Mantra Mr.Srikumar Misra said “We will be looking closely at business from Jharkhand, Chhattisgarh, and west Bengal, and also are looking to invest in Green land projects and likely to invest in renewable Energy drinks.” Read more Indian Startup Funding.