Dvara E-Dairy Solutions Pvt Ltd, an agri-fintech company incubated at the Dvara Venture Studio of Dvara Holdings (formerly Dvara Trust), has announced it has raised $2 million in a pre-Series A round of funding from Axilor, an early-stage seed fund, and Dvara Venture Studio, an initiative of Dvara.
Right from its inception in 2019, Dvara E-Dairy has been focused on solving the problems of small and marginal dairy farmers by building an ecosystem platform and deploying new-age technologies that enable access to suitable financial and cattle management services for dairy farmers. Its Surabhi platform provides comprehensive financial and cattle management solutions to India's small and medium dairy farmers. It also enables financial services institutions and value chain companies to make informed decisions in relation to the dairy industry.
This investment by Axilor will further accelerate Dvara E-Dairy's growth plans into newer geographies, enabling it to scale up its operations and investment in technology for better optimisation, it said in a statement.
Commenting on the investment, Ravi K.A., CEO of Dvara E-Dairy Solutions, said, "Dvara E-Dairy Solutions empowers small dairy farmers with preventive and primary care for their cattle and enhances financial inclusion by leveraging new-age technologies. The innovative solution helps financial services companies with accurate reports to underwrite cattle activities and achieve scale. "
Samir Shah, Executive Vice-Chair & Co-founder, Dvara Holdings, said, "Dvara Venture Studio has been focussed on incubating ventures that help address market failures in financial inclusion at scale. We are delighted to partner with Axilor and its team to help take Dvara E-Dairy to the next level using its proprietary bovine AI-based facial recognition tools and the digital finance platform to help 90 million-plus small holder cattle farmers in India."
On the investment, Ganapathy Venugopal, Cofounder and CEO of Axilor, said, "India's dairy economy is worth over $140 billion. Despite its size and impact on farmers' livelihood, the sector uses little technology. Cattle farmers have no means to measure and monitor the health of their cattle and often have very poor financial access. E-Dairy, through its technology, can play a significant role in ascertaining identity, improving cattle health and enhancing financial access to cattle farmers. We are excited to partner with E-Dairy in their journey to become the pre-eminent platform for cattle farmers in India."