In a mix of equity and debt, dairy technology startup, Stellapps has raised $26 million.

The funding round saw the participation of Blume Ventures, Omnivore, Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Global (formerly 500 Startups) and Singapore-based Blue Ashva Capital along with new investor Miledeep Capital, with debt funding from the US International Development Finance Corporation (DFC)

On one hand, there was early stage venture and seed accelerator, 500 Global, and on the other hand, there was an impact fund, IDH Farmfit Fund, which focused on smallholder farmers.

Stellapps is reported to use the funds towards its mooMark business, which is focused on contract manufacturing and private-label dairy operations

Stellapps is a Bangalore-based farm-to-consumer dairy digitization service provider firm, founded in 2011 by Mukundan, Ravishankar G Shiroor, Praveen Nale, Ramakrishna Adukuri and Venkatesh Seshasayee.

The firm is said to have deployed over 42,000 villages across the country, while facilitating the movement of over 14 million litres of milk per day.

It is observed to serve around 150 clients which also include Unilever, Punjab Paneer, FreshToHome and Namdhari besides hotels, restaurants, and cafés (Horeca).

The firm also plans to begin exporting, starting with West Asia.

The company clocked a revenue of around Rs 360 crore in FY24. In the current financial year, it plans to hit the Rs 400-crore revenue mark.