MoooFarm, an information technology startup that bridges the technology gap to help marginalized dairy farmers, announced it has raised Rs 4.3 crore in pre-seed funding round from Rockstart and Navus Ventures, according to YourStory report.
The startup will use the current financing to boost expansion, strengthen its product-market fit and hire key technology talent to launch new services to farmers.
Founded in 2019 by Param Singh, Aashna Singh, Abhijeet Mittal, and Jitesh Arora , MoooFarm claims that it has helped 25,000+ dairy farmers increase their daily milk yield which has increased their income by Rs 3,000-4000 per month.
Commenting on the recent fund raise, Jitesh Arora, Co-founder, MoooFarm said, “We have several interesting initiatives lined up for our customers to further enhance their experience. This new capital will allow us to invest in these endeavours and build technology moats around MoooFarm.”
Abhijeet Mittal, Co-founder, MoooFarm adds, “Dairy is a multi-billion dollar industry crippled with a lot of inefficiencies. With Navus Ventures’ and Rockstart’s deep expertise into agri space we will continue to strengthen our product suite and digitally empower 100 million dairy farmers.”
“MoooFarm, with its developed platform, that can link all elements needed for optimized production of milk and dairy products, can make a huge contribution to improving the availability of high quality and affordable dairy products to sustain the growing worldwide demand,” stated Eduard Meijer, Managing Director, Navus Ventures.
–AN
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.