Dairy start-up Sid's Farm on Tuesday said it has raised $10 million (about Rs 83 crore) from investors to expand its business. The funding round was co-led by Omnivore and Narotam Sekhsaria Family Office(NSFO).
It will use the fund to build a robust team to attract and retain top talent across various functions.
Dairy start-up Sid's Farm on Tuesday said it has raised $10 million (about Rs 83 crore) from investors to expand its business. The funding round was co-led by Omnivore and Narotam Sekhsaria Family Office(NSFO).
"Sid's Farm plans to use the funds to establish a strong presence in Hyderabad and Bengaluru by enhancing manufacturing capabilities to meet the growing demand for high-quality dairy products," the company said in a statement.
It will also use the fund to build a robust team to attract and retain top talent across various functions. Sid's Farm is a Hyderabad-based dairy brand, serving more than 25,000 customers across two cities.
The start-up controls the entire value chain of milk and milk products by sourcing directly from farmers and conducting rigorous quality testing throughout the supply chain to ensure nutrient-dense additive-free milk.
“Premium dairy brands and products over D2C platforms are expected to lead (the) growth (in the overall Indian dairy space). We see Sid’s Farm emerging as a key player in this space with its commitment to antibiotic-free, hormone-free, preservative-free milk and milk products,” said Reihem Roy, partner, Omnivore.
Its founder Kishore Indukuri is an IIT Kharagpur alumnus. Sid's Farm started its operations with whole buffalo and cow milk and gradually diversified into curd, paneer, ghee, butter, dairy beverages, and dairy-based desserts.
Indukuri said, "This investment will be instrumental in accelerating our growth trajectory and enable us to provide fresh, healthy, and responsibly sourced food to a wider audience in Hyderabad and Bengaluru".
"We strongly believe that there is an opportunity to serve over 1,00,000 families every day in these two markets alone," he said.
Founded by Kishore Indukuri in 2013, the start-up sells a wide rage of products that includes butter, paneer, and ghee. The main intent of the start-up is to “provide every family with healthy and natural dairy products that are free from antibiotics, hormones, preservatives and other harmful adulterants.”
(With inputs from PTI)