Stellapps secures $26 million in funding, targets pan-India expansion in dairy processing and value added products
The new capital infusion is poised to fuel the company’s ambitious expansion plans, including scaling its Value Added Dairy Products (VADP) manufacturing components and enhancing processing capacities across India.
Ranjith Mukundan, CEO of Stellapps stated, “With this fundraise, we plan to expand our VADP manufacturing components and invest in additional processing capacity across India. We already have some capacity in Bangalore and UP, but the idea is to extend it to pan-India.
This will enable us to offer services to key players like Amazon Fresh and Zomato, ensuring that when they launch nationally, our services are well-established across the country. The aim is to expand our processing footprint, boost procurement capabilities, and become a truly pan-India player powering FMCG customers.”
Stellapps has been at the forefront of transforming India’s dairy industry, leveraging the technology roots that were cultivated during its incubation at IIT Madras. Today, the company digitizes over 14 million liters of milk across 42,000 villages in India. Stellapps also licenses its technology to major dairy operators such as Amul, Mother Dairy, and Heritage, addressing critical issues in India’s dairy supply chain, including productivity, quality, and traceability.
Mukundan emphasised the importance of these solutions in India’s fragmented dairy supply chain, which relies heavily on smallholder farmers. “Milk moves a long distance from remote villages to a cup of tea or paneer on your plate. Ensuring that this milk remains residue-free, that no one guards the system, and that the cold chain remains unbroken is critical given that milk is a highly perishable commodity.
Our technology enables dairy operators to solve for productivity, quality, and traceability,” said Mukundan. Stellapps is also exploring opportunities to replicate its success internationally, with discussions underway to deploy its technology in Morocco, Brazil, and Europe.
In terms of financial performance, Stellapps reported revenue of ₹360 crore in FY24. The company expects its revenue to remain stable between ₹350 crore and ₹400 crore for FY25, as its current focus is on improving margins and achieving stability. “We aim to break even by September 2025,” Mukundan stated, highlighting the company’s near-term financial goal.
Additionally, Adarsh Narahari, Founder and MD of Primus, discussed the company’s strategy for utilising its recent $20 million fundraise. The funding round was led by General Catalyst, with contributions from notable investors including Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai.
Moreover, Vivek Gupta, Co-Founder of Licious, shared his insights on the company’s financial performance for FY24 and outlined the company’s future plans.
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