Dvara E-Dairy Solutions Pvt Ltd, an agri-fintech firm has raised $2 million in its pre-Series A funding round from Axilorand Dvara Venture Studio, an initiative of Dvara.
The startup plans to use the funds to expand into new geographies, scale up operations and invest in technology.
Chennai-based Dvara E-dairy was founded in 2019, itis an agrifintech company incubated at the Dvara Venture Studio of Dvara Holdings (formerly Dvara Trust).
The company focuses on building an ecosystem and deploying technologies and providing access and scale in financial services and animal management services to solve the problems of small and marginal dairy farmers.
“Dvara E-Dairy Solutions empowers small dairy farmers with preventive and primary care for their cattle and enhances financial inclusion by leveraging new-age technologies. The innovative solution helps financial services companies with accurate reports to underwrite cattle activities and achieve scale”, said, Ravi K.A., CEO of Dvara E-Dairy Solutions.
“Dvara Venture Studio has been focussed on incubating ventures that help address market failures in financial inclusion at scale. We are delighted to partner with Axilor and its team to help take Dvara E-Dairy to the next level using its proprietary bovine AI-based facial recognition tools and the digital finance platform to help 90 million-plus small holder cattle farmers in India”, Said, Samir Shah, Executive Vice-Chair & Co-founder, Dvara Holdings.
“India’s dairy economy is worth over $140 billion. Despite its size and impact on farmers’ livelihood, the sector uses little technology. Cattle farmers have no means to measure and monitor the health of their cattle and often have very poor financial access. E-Dairy, through its technology, can play a significant role in ascertaining identity, improving cattle health and enhancing financial access to cattle farmers. We are excited to partner with E-Dairy in their journey to become the pre-eminent platform for cattle farmers in India”, said, Ganapathy Venugopal, Cofounder and CEO of Axilor.
About Dvara E-Dairy
Dvara E-Dairy Solutions Private Limited is focused on solving the problems of small and marginal dairy farmers by building an ecosystem platform and deploying new-age technologies, and providing access and scale in financial services and cattle management services. The Dvara E-Dairy solution aims to create synergy between dairy farmers, financial services institutions and value chain companies to assist them in making informed decisions.
It is an agfintech portfolio company of Dvara Holdings (formerly Dvara Trust) and is part of the Dvara Venture Studio cohort that Dvara Holdings is pioneering into being the premier start-up partner in India for entrepreneurs working towards large-scale systemic change in financial inclusion.