Dairy startup Happy Cow Dairy Bags Rs 4 Cr Seed Money from angel investors

Dairy startup Happy Cow Dairy Co has raised a seed funding of about Rs 4 crore from a group of angel investors including the former executive at Citi Bank and serial entrepreneur Mahendra Mehta and others. The Mumbai-based startup will use the capital to further expand operations.

Founded in November 2017 by Sarad Garodia, former Head of Britannia’s Dairy division, Happy Cow Dairy aggregates milk from dairy farmers by building milk collection centres enabled with technology near milk farms in Maharashtra and provides them in bulk to dairy corporations such as Schreiber Dynamix Dairy.

Happy Cow Dairy currently has about 20 milk collection centres in Maharashtra's Pune and Ahmednagar belts, complete with refrigeration units, weighing scales and testing equipment to ensure collection of high-quality milk. The startup has connected procures milk from about 600 farmers across villages in these areas.

Sarad Garodia, Founder of Happy Cow Dairy said, “We currently collect about 20,000 litres per day in our centres while Maharashtra alone collects about 2 crore litres per day. So we have a long way to go,”. Each centre enables a collection of about 2000 litres of milk per day.”

Within 4 months of operations, the firm has racked up Rs 6 crore in revenues and is looking to use the capital to set up to 150 centres over the 2 years. “We will close this year with about 50 centres at least. Eventually, I’d like Happy Cow Dairy to have set up about 250 centres across key milk producing zones in India,” Garodia said.

Happy Cow Dairy is targeting a turnover of Rs 150 crore by FY20.