Stellapps, a homegrown dairy technology startup, is on the cusp of a significant milestone as it enters advanced discussions to secure approximately $20 million in its upcoming Series C fundraising round, according to reports from Inc42. With a substantial portion of the funding expected from existing investors like Celesta Capital, Omnivore, Gates Foundation, IDH Farmfit Fund, Blume Ventures, and Qualcomm Ventures, Stellapps is poised for rapid expansion and innovation in the dairy industry.
Ranjith Mukundan, the Co-founder and CEO of Stellapps, has confirmed the developments, hinting at the potential participation of new investors in the funding round. This influx of capital will fuel the company’s strategic growth initiatives, particularly in the realm of value-added dairy products, underscoring Stellapps’ commitment to innovation and diversification.
As part of its ambitious roadmap, Stellapps envisions a transformative journey towards an Initial Public Offering (IPO) within the next 36-48 months, signaling its aspirations for long-term growth and market leadership. Mukundan emphasizes the company’s vision to provide investors with substantial returns, aiming for a valuation of $450 million to $500 million during the IPO.
In alignment with its growth strategy, Stellapps has ventured into milk processing to supply value-added dairy products to prominent FMCG brands since July last year. The company’s product portfolio encompasses a range of dairy essentials, including curd, ghee, cottage cheese, buttermilk, and double-toned milk, catering to evolving consumer preferences and market demands.
Operating two processing plants in Uttar Pradesh and Bengaluru, Stellapps is poised to bolster its manufacturing capabilities by doubling its processing plant count to four, thereby augmenting its production capacity and market reach. This expansion underscores Stellapps’ commitment to operational excellence and scalability in a rapidly evolving market landscape.
Established in 2011 by a cohort of IIT alumni and former Wipro employees including Mukundan, Ravi Shiroor, Ramakrishna Adukuri, Praveen Nale, and Venkatesh Seshasayee, Stellapps has emerged as a trailblazer in leveraging technology to digitize and optimize the entire milk supply chain. The company’s innovative Internet of Things (IoT) platform facilitates seamless integration across the dairy ecosystem, encompassing milk production, procurement, storage, and distribution.
Moreover, Stellapps’ platform serves as a catalyst for empowering farmers by connecting them with financial and insurance institutions, cattle nutrition providers, and agro-input suppliers, thereby fostering inclusive growth and sustainability across the dairy value chain.
As Stellapps charts its course towards Series C funding and an eventual IPO, the company remains steadfast in its commitment to driving innovation, fostering partnerships, and revolutionizing the dairy industry landscape. With a compelling vision and a track record of success, Stellapps is poised to redefine the future of dairy technology, creating value for stakeholders and consumers alike in the global dairy market.