Agritech startup MoooFarm has raised $2.4 million in a seed round led by Accel India with participation from Rockstart’s AgriFood fund and Navus Ventures.
The startup has plans to use the funds raised to hire the new top technology talent. The startup also plans to use a portion of the funds raised to grow the startup’s revenue and make expansions on operational locations.
MoooFarm was founded in 2019 by Param Singh, Aashna Singh, Abhijeet Mittal, and Jitesh Arora and has its headquarters in Gurugram, Haryana. The people who work at the startup are driven by the idea that the optimum results are born out of perseverance, determination, and strong-team connection.
The MoooFarm app has over a million downloads on the Google Play Store. The startup claims that it has increased its revenue by 10x in a year. It plans to deploy the funding towards accelerating customer acquisition.
“This investment will help accelerate our vision to build sustainable food systems for 100 million dairy farmers and 1 billion consumers. We will use the fresh capital for hiring the best tech talent, significantly grow revenue and expand on operational locations. Over the last two quarters, we have seen a 30% month-on-month revenue growth with realised Annual Revenue Run-rate of 100 Cr,” said Param Singh, founder & CEO, Mooofarm.
“MoooFarm has a compelling vision for the Indian dairy industry, which matches Rockstart’s goal to support purpose-driven founders to drive a more connected, efficient and resilient food supply system. It’s been a pleasure to work with the MoooFarm team since our initial investment in 2020,” added Mark Durno, managing partner, Agrifood, Rockstart.