Stellapps Technologiesa dairy technology company, secured $26 million in a Series C funding round, combining equity and debt.

The round saw participation from existing investors such as Blume Ventures, OmnivorousBill & Melinda Gates Foundation, IDH Farmfit Fund, 500 startups and Blue Ashva Capitalwith debt financing from the U.S. International Development Finance Corporation.

The funds will be used to accelerate its mooMark operations, which focus on contract manufacturing and private label dairy products that are high quality, sustainable and traceable, the company said in a statement.

“We are excited to receive continued commitment from our existing investors and welcome new investors in our Series C round. This capital will help mooMark sustainably expand its value-added dairy offering to its customers across India and to strengthen its export segment in the future,” said Ranjith Mukundan, CEO, Stellapps.

Stellapps, an IoT solutions company for the dairy sector, started at IIT-Madras, focusing on contract manufacturing and private labeling of value-added dairy products under the brand ‘mooMark’, using a low investment technological approach.

The technology stack improves the traceability and sustainability of mooMark products, thereby reducing the carbon footprint at the farm level, enabling FMCG, D2C and HoReCa businesses to offer unique and premium dairy products that align with Net Zero objectives.

“Omnivore strongly believes in India’s dairy sector, which accounts for a colossal 6.5% of the national GDP. We are excited to continue our partnership with Stellapps in their efforts to deliver high-quality, value-added dairy products at scale while boosting the dairy economy through traceability, sustainability and farmer-focused solutions », added Reihem Roy, partner at Omnivore.

It has been deployed in more than 42,000 villages, facilitating the daily movement of more than 14 million liters of milk.

Stellapps is backed by investors including Celesta Capital, Nutreco, Qualcomm Ventures, ABB Technology Ventures, Venture Highway, Binny Bansal, BEENEXT and Arun Seed.