Akshayakalpa Organic, India's first certified organic dairy enterprise that offers organic milk and milk products, has raised of $15 million in 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, said a press release issued on Thursday.
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, said the release.
Founded by G.N.S. Reddy and Shashi Kumar, Akshayakalpa Organic is the biggest organic milk producer in the country and has seen significant growth at a Compound Annual Growth Rate (CAGR) of 60% in the last five year.
