Bengaluru-based MilkLane has raised Rs 27 crore in pre-Series A funding round. The funds have been raised from Pioneering Ventures, Schreiber Foods and ultra-high net worth families.
Gaurav Haran, Chief Operating Officer, MilkLane, said, “The funding is utilised in scaling up the procurement platform and cattle feed business. It is also invested in launching and scaling up the MilkLane UHT (ultra-high temperature) product for consumers in Bengaluru.”
The dairy supply chain start-up is looking to connect with more than one lakh dairy farmers by setting up over 1,000 bulk chillers in the next decade. It has a presence in 500+ premium stores in Bengaluru.
“The company’s asset-light model can be replicated across multiple geographies in the country. Currently, active in the southern states (viz. Tamil Nadu, Andhra Pradesh and Karnataka), the dairy start-up can very easily scale up operations in the west and east as well,” Haran stated.
He further added, “Additionally, the company plans to strengthen its cattle feed business to support the milk quality requirements and achieved a penetration level of over 50 per cent in its network. Further, the plan is to make the products available to farmer beyond the MilkLane’s network.”