Get All Access for $5/mo

Dvara E-Dairy Raises $2 Million In Pre-Series A Funding The fund will be used to expand the company into newer geographies, scale up operations and invest in technology

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Dvara E-Dairy, an agri-fintech company incubated at the Dvara Venture Studio of Dvara Holdings, has raised $2 million in pre-Series A funding round led by Axilor and Dvara Venture Studio. The fund raised will be utilized to expand the company into newer geographies, scale up operations and invest in technology.

"Dvara E-Dairy empowers small dairy farmers with preventive and primary care for their cattle and enhances financial inclusion by leveraging new-age technologies. We are delighted to have Axilor as a partner with us in this journey and are confident that this investment will propel us forward in our mission to enhance the livelihoods of millions of small and medium dairy farmers across the country," said Ravi K.A, CEO, Dvara E-Diary.

The company had impacted over 150,000 farmers in the country across seven states and tailored over 100 partnerships across the spectrum, claimed by the company in a statement.

"Dvara 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 them in their journey to become the pre-eminent platform for cattle farmers in India," said Ganapathy Venugopal, co-founder and CEO, Axilor.

Founded in 2019, Dvara E-Diary has been focused on solving the problems of small marginal dairy farmers by building an ecosystem platform and deploying new-age technologies that enable access to suitable financial and cattle management services for dairy farmers. Its Surabhi platform also provides comprehensive financial and cattle management solutions to India's small and medium dairy farmers.

"Dvara Venture Studio has been focused 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 inorder to help more than 90 million smallholder cattle farmers in India," said Samir Shah, executive vice-chair and co-founder, Dvara Holdings.

According to reports, the Indian dairy market size reached a value of nearly $144.55 billion in 2019. It is expected to grow at a CAGR of around 6 per cent in the forecast period of 2020-2025.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

News and Trends

Indian Startup Ecosystem Poised for Exponential Growth in Next 5-7 Years: KPMG

India is likely to have a labour force of 535 million by 2030 and this demographic asset is pivotal for the growth of the startup ecosystem, offering a ready pool of talent and consumers for innovative solutions.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

Growth Strategies

Tata Motors: 45% Of EV Sales Come From Smaller Towns; Targets Installing Community Chargers

Category acceptance from smaller towns is the key to growth and we have achieved it, Vivek Srivatsa, chief commercial officer, Tata Passenger Electric Mobility

News and Trends

GCCs in India to Lead Innovation and Shape Global Business Trends: Report

The country currently has over 1,700 GCC enterprises employing over 2 million professionals and is at a pivotal point in their development in transforming into strategic hubs, according to a report titled 'Pioneering Innovation In Global Capability Centers' by Avasant.