Akshayakalpa, a startup in the agritech sector, has raised $15 Million in its Series B fundraising round.
In addition to Venture Dairy, an existing investor, new investors British International Investment and Rainmatter Foundation also took part in the fundraising round.
Akshayakalpa will actively invest in current markets, like Bengaluru, Chennai, and Hyderabad, as well as grow into new regions, including Pune, Mumbai, and Kochi, using the new funding. Additionally, it will use the funding to distribute its organic dairy products throughout India.
“We recognize Akshayakalpa’s potential to build a thematic portfolio within the fast-growing food industry and in an increasingly consumer-conscious market. We are happy that our capital will support its expansion, increase productivity and improve income for farmers while also bringing sustainably farmed products directly to more consumers,” said Manav Bansal, managing director and head of India, British International Investment.
Dr. GNS Reddy and Shashi Kumar founded Akshayakalpa in 2010, which distributes organic milk, milk products, and other foods like cheese, buttermilk, honey, and bread to consumers. According to the startup, these products don’t include antibiotics, artificial chemicals, hormones, or residual chemical pesticides.
Akshayakalpa collaborates closely with young farmers who have given up farming due to a lack of economic viability to produce these products. According to the startup, by giving these farmers access to markets, technical assistance, outreach to extension programmes, and bank linkages, they are being prepared to become business owners.
“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,” said Kumar.