Stellapps Technologies, an IoT firm has raised an undisclosed amount from Stride Ventures. Stellapps which operates in dairy supply chain has received fund from the venture debt firm for the second time in less than a year. Abhinav Suri, Senior Partner of Stride Ventures said, “Despite the current COVID situation, we see Stellapps ramping up operations and would continue to support them with capital as they scale up.”
Stellapps which was founded in 2011 is a farm to consumer dairy digitisation service provider. It leverages analytics and artificial intelligence through its full-stack IoT platform to enable dairy ecosystem partnerships with financial and insurance institutions, veterinary services, cattle nutrition providers, etc., to drive significant value for each stakeholder, including small farmers.
Ranjith Mukundan, Co-founder and CEO, Stellapps Technologies said, “Our vision through our data-led interventions across the dairy supply chain is to enhance productivity, profitability, and sustainability with milk quality and traceability as the cornerstone.”
The firm currently digitizes about 10 million liters of milk which is worth $3.4 million every day through its customer base of private and co-operative diaries. It directly impacts 2 million dairy farmers in more than 28,000 Indian villages.
Incubated at IIT-Madras, the firm has been funded by alden Riverwood Ventures-IndusAge, Qualcomm Ventures, ABB Technology Ventures (ATV), Bill & Melinda Gates Foundation (BMGF), Binny Bansal, Blume Ventures, Omnivore, Venture Highway, BeeNext, 500 Startups, and others.
The company said in a statement that through its smartMoo suite of solutions, they enable end-to-end digitsation of the dairy supply chain and drive productivity, better milk quality and traceability.