Akshayakalpa Organic, a startup in the organic dairy industry, has raised $15 million in its Series B round from investors Venture Dairy, British International Investment, and Rainmatter Foundation. The Bengaluru-based company has waited three years for the next round.
Akshayakalpa was established by Dr. GNS Reddy and Shashi Kumar in 2010. Since then, it has been producing organic milk and has experienced compound annual growth rate (CAGR) of 60% during the last five years.
According to a press release from the company, Akshayakalpa intends to invest in the marketplaces of Bengaluru, Chennai, and Hyderabad, grow into new regions like Pune, Mumbai, and Kochi, and promote its products all over India.
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“With support from British International Investment, Rainmatter, and Venture Dairy, we hope to continue retaining the uncompromised quality of our products. We will continue to serve more customers while deepening our efforts to create sustainable farming systems and restore dignity to rural India”, Akshayakalpa Organic co-founder and CEO Shashi Kumar said.
Akshayakalpa has crafted a world-class model that not only creates a new industry benchmark in dairy farming practices but also nurtures farmers in line with its mission to create a holistic ecosystem-led transformation by empowering the farmer journey in clean and organic farming.
“The more I learnt from Shashi and his team about what goes into the process of milk production, I have been conscious about how it is sourced. The processes they have in place to ensure sustainable milk production and the support they offer to improve farmer livelihoods are impressive. We are excited to support them on this journey”, Nithin Kamath, Founder and CEO of Zerodha and Rainmatter, said.
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It is the first organization in India to test the milk for antibiotics both at the farm levels and the dairy plant, a practice that is followed across the 650+ Akshayakalpa farms. Currently has about 50000+ customers across Bengaluru, Chennai and Hyderabad and is growing.
About Akshayakalpa Organic
Founded in 2010, Akshayakalpa Organic is India’s first certified organic dairy enterprise that offers milk and milk products that are free from antibiotics, synthetic additives and chemical pesticides residue. Harnessing the best minds and the most innovative technologies that can help create best practices for dairy farming in India and the world too.