Milk Mantra has built an end-to-end dairy value chain that procures milk from more than 65,000 farmers, tests and processes it, and sells through over 10,000 mom-and-pop stores across several cities in Odisha. The company also operates a daily subscription milk delivery service that the founder says may account for 10–15% of sales as it scales. It packages milk under the Milky Moo brand with packaging designed to prevent light exposure and the need to boil. Milk Mantra deploys IoT devices and data analytics to control quality and pricing and says this transparency has helped increase farmer incomes. The startup turned EBIDTA positive last quarter and has previously raised about $35 million by selling equity stakes. It plans to use fresh capital to build a digital financial services platform for its farmer network, with a focus on financial inclusion for farmers, especially women, and to expand its physical chain in Kolkata. Milk Mantra Dairy is an east India-focused dairy company operating in the dairy sector. The company completed a Series D funding round led by Neev Fund. Existing investors Eight Roads Ventures and Aavishkaar co-invested in the round. The article does not disclose the amount raised or other financial metrics. No information on prior rounds, founding year, or specific future plans was provided in the article. Milk Mantra, founded in 2009 by Srikumar Misra, is an Odisha-based dairy company that produces and sells fresh milk and milk-based products under the Milky Moo brand, including probiotic dahi, paneer, lassi and buttermilk. It currently sells its products in Odisha, Kolkata and key markets in Jharkhand. The company emphasizes ethical sourcing and branding and plans to expand operations across Eastern India and launch a functional milkshake in national markets. The Series C primary proceeds are earmarked to support that geographic expansion and product launch. Ownership after the transaction places Aavishkaar Venture and Fidelity India at around 70% with promoters holding roughly 30%. The deal included a secondary component that provided exits for 25 angel investors. Fidelity's Abhinav Sinha and Aavishkaar's Noshir Colah will join Milk Mantra's board. Milk Mantra is an Orissa-based dairy company established in 2009 that offers milk cartons. It started operations in Bhuvaneswar and is looking to extend to other parts of Eastern India. In December 2012 the company received further investment as part of a second round of funding. Aavishkaar, via its Aavishkaar India II Fund, invested Rs.3 crore in the company. Vineet Rai of Aavishkaar joined Milk Mantra's board in December 2012. The articles do not disclose valuation, detailed financials, or other operating metrics. Milk Mantra is developing an integrated dairy chain in Orissa that will sell milk and other dairy products across Eastern India. The company is building a 50,000 LPD dairy processing unit in Gop, about 8 km from Konark. It targets a network of 10,000 farmers in the medium term and plans to be the first direct-to-home dairy firm in the region. Founders Srikumar Misra and Ashit Mahapatra are focused on setting up the full supply-chain, including cold-chain storage, ahead of a planned product launch in September 2011. The firm aims to position itself as a leading milk brand in Eastern India and to create a sustainable, organized supply chain in an under‑marketed region.

Total raised

$29M

Funding rounds

6

Latest round

Debt Financing

Latest activity

Jun 2020