Bengaluru-based Digivriddhi Technologies Pvt Ltd (DGV), a dairy industry-focused neobanking startup, on Tuesday announced that it has raised $3.1 million in a pre-Series A funding round from Info Edge Ventures and Omnivore.
Founded in 2019 by Ragavan Venkatesan, DGV currently works with Indian cooperative dairy unions and their respective milk cooperative societies and farmers to provide them access to payments, liabilities, and asset products, in partnership with Federal Bank.
“We are delighted to welcome Info Edge Ventures and Omnivore to lead our first institutional round. Info Edge Ventures’ experience in scaling digital marketplaces, and Omnivore’s deep experience in agritech, will allow us to create an unmatched full-service platform for dairy farmers,” said Venkatesan.
“Indian dairy industry is the largest dairy market globally at $145 billion, engaging more than 75 million dairy farmers. Despite the huge size of this industry and its importance to our livelihoods, dairy farmers lack access to basic financial products and services and even struggle to access cash conveniently,” added Kitty Agarwal, Partner, Info Edge Ventures.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from November 9-11, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Digivriddhi Technologies Private Limited||Bengaluru||3.1 million||Pre-Series A||Info Edge Ventures, Omnivore||-||Financial Services||Digibank|
|Bombay Hemp Company||Mumbai||2 million||-||Family offices of Achin Kochar of the Vi-John Group, Riteesh Mohan Bakshi, Raghav Mohan Bakshi||-||Agribusiness||AgTech|
|Wingreens Farms||Gurugram||17 million||Equity||Investcorp||Omidyar Network India||Food||E-commerce|
|Petpooja||Ahemdabad||4.5 million||-||Aroa Ventures||GVFL, Udaan, Dr Mayur Desai||Software||Restaurant Tech|
|Vayana Network||Pune||38 million||Series C||Chiratae Ventures, CDC group, Jungle Ventures, March Capital, Marshall Wace||-||Financial Services||Fintech|
|Buyofuel||Coimbatore||213,333||Seed||Inflection Point Ventures||-||Renewable Energy||E-commerce|
|Doola||Bengaluru||3 million||-||Nexus Venture Partners||YCombinator, Hustle Fund, XX, Psion Capital, Translink Investment, and other all-star angels, including Jacqueline Reses, Dharmesh Shah, Ankur Nagpal, Rohini Pandhi, Arjun Sethi, Prasanna Sanka||Financial Services||Fintech|
|Bert Labs||Bengaluru||1 million||-||Katkar Family Office, Kailash Katkar, Sanjay Katkar||Jeevan Patwa||Industrial Machinery||Internet of Things|
|Nanosniff Technologies||Mumbai||-||-||JITO Angel Network||-||Electronics||Nanotechnology|
|Knocksense Media Services||Lucknow||150,000||Bridge||We Founder Circle||Appyhigh, Mumbai Angels Network, LetsVenture||Media||Digital Media|
|ElectricPe||3 million||Seed||Blume Ventures, Micelio Fund||Anshuman Bapna, Anupam Mittal, Arjun Ravi Sheth, Ashish Goel, Bhuvan Gupta, Jasminder Singh, Khadim Batti, Vara Kumar||Energy Storage & Batteries||Electric/Hybrid Vehicles|
|EyeMyEye||Gurugram||2.7 million||Pre-Series A||-||Brijesh Agarwal, Raghav Gupta, Baskara Rao||Retail||E-commerce|
|Valuationary||Surat||100,000||Pre-Seed||Ashish Jain, Ajay Surana, Rachit Poddar, Rajesh Gupta, Hetal Desai||Marwari Catalysts Ventures||Education/Training||EdTech|
|Coding Invaders by MentorsPro||Pune||700,000||Pre-Seed||S16VC, A Partners||-||Education/Training||EdTech|
|Atmana||Bengaluru||500,000||Seed||Y Combinator, Goodwater Capital||Dhruv Gupta, Austen Allred||Software||-|