Akshayakalpa Organic, an organic dairy enterprise that offers organic milk and milk products free from antibiotics, synthetic additives, hormones, and chemical pesticide residue, today announced the raising of $15 million in a Series B funding round from both existing and new investors.
British International Investment, the UK's development finance institution, Rainmatter Foundation, and its existing investor Venture Dairy have joined the Series B financing to help fulfil Akshayakalpa’s promise to promote, support and grow sustainable and regenerative farming while providing premium organic milk to its consumers.
Akshayakalpa plans to aggressively invest in Bengaluru, Chennai, and Hyderabad markets, expand into new geographies of Pune, Mumbai and Kochi and take its long-shelf Organic Dairy products pan India.
"We are delighted to partner with like-minded organizations. Over the last few years, consumers have become more conscious about living healthier lifestyles. With support from British International Investment, Rainmatter, and Venture Dairy, we hope to continue retaining the uncompromised quality of our products. We will continue to serve more customers while deepening our efforts to create sustainable farming systems and restore dignity to rural India," says Shashi, Co-founder and CEO at Akshayakalpa Organic.
"British International Investment is delighted to invest in Akshayakalpa, a company at the forefront of sustainable agriculture in India and working in the interests of farmers and consumers. We recognize the company's potential to build a thematic portfolio within the fast-growing food industry and in an increasingly consumer-conscious market. We are happy that our capital will support its expansion, increase productivity and improve income for farmers while also bringing sustainably farmed products directly to more consumers." explains Manav Bansal, Managing Director and Head of India, BII.
Nithin Kamath, Founder and CEO of Zerodha and Rainmatter, explains, "The more I learnt from Shashi and his team about what goes into the process of milk production, I have been conscious about how it is sourced. The processes they have in place to ensure sustainable milk production and the support they offer to improve farmer livelihoods are impressive. We are excited to support them on this journey."