The Agritech startup, Mooofarm, offering Dairy-as-a-Service for dairy farmers, is expecting to close the upcoming financial year (FY23) with consolidated revenues of Rs 200 crore. Whereas, the startup is registering the current revenue of Rs 55 crore (FY22). This is the highest recorded revenue in the dairy space of the startup ecosystem, which makes Mooofarm a cash and vision-rich business: in the era of startups burning cash and unable to monetize.
Changing the face of the dairy sector, Mooofarm has grown its revenue 10x+ as compared to FY21 and is all set to organize over 100 billion Indian dairy sector with strong operational and technical expertise for a large and unexplored market which constitutes almost 4.6% of India’s GDP.
“With a mission to make farmers prosperous, Mooofarm is building a Dairy-as-a-Service for the Dairy Farmers where farmers can induct high-quality cattle, access financial services, order farm inputs, discuss their problems with qualified veterinarians and connect with fellow farmers on an easy to use a mobile application. We are glad that more and more farmers are getting associated with us and leveraging the technology for a sustainable future for all,” says Param Singh, founder of Mooofarm.
Pandemic was enough to make us realize the importance of technology. Technology-aided agriculture for an efficient supply chain has always been the need of the hour. Even though dairy as a sector was booming, farmers were still facing issues in accessing the right cattle, cattle nutrition, and access to expert doctors. Mooofarm’s vision started with building a connected commerce platform, strongly driven by technology to increase income for 80 million dairy farmers in India with small solutions that make the process feasible and accessible to every farmer at their fingertips. Further, incorporating structural changes like strengthening the cooperatives beyond supply points, and optimized production of milk and dairy products made a huge contribution to improving the availability of high-quality and affordable dairy products to sustain the growing worldwide demand.
After raising $2.4 million in seed funding this year, Mooofarm, backed by Accel India strives to bridge the gap between India’s top tech talent and agriculture advancement. Mooofarm does it by taking end-to-end ownership of cattle as they source cattle through advanced machine learning algorithms and trusted suppliers, which help them select the best cattle of the lot and give the best prices to the farmers. Bringing evolution with every download, Mooofarm already has over one million farmers soaring heights with them on their Application. Presently, Mooofarm is in the final stage of Series-A funding to keep its vision high.