27 April, 2018
Dairy startup Happy Cow Dairy Co has raised about Rs. 4 crore in its seed round of funding from a clutch of angel investors including former executive at Citi Bank and serial entrepreneur Mahendra Mehta and others. The Mumbai-based startup will use the capital to further expand on operations.
Founded in November 2017 by Sarad Garodia, former Head of Britannia’s Dairy division, Happy Cow Dairy accumulates milk from dairy farmers by building milk collection centres enabled with technology near milk farms in Maharashtra and provides them in bulk to dairy corporations such as Schreiber Dynamix Dairy
Happy Cow Dairy currently has about 20 milk collection centres in Maharasthra’s Pune and Ahmednagar belts, complete with refrigeration units, weighing scales and testing equipment to ensure collection of high quality milk. The startup has connected and procures milk from about 600 farmers across villages in these areas.
“We currently collect about 20,000 litres per day milk in our centres while Maharashtra alone collects about 2 crore litres per day. So we have a long way to go,” said Sarad Garodia, Founder of Happy Cow Dairy. Each centre enables a collection of about 2000 litres of milk per day.
Within 4 months of operations the firm has racked up Rs. 6 crore in revenues and is looking to use the capital to set up upto 150 centres over the 2 years. “We will close this year with about 50 centres atleast. Eventually I’d like Happy Cow Dairy to have set up about 250 centres across key milk producing zones in India,” Garodia said.
Happy Cow Dairy is targeting a turnover of Rs 150 crore by FY20.