25 June,2024 02:40 PM IST | Mumbai | IANS
Dr Kishore Kumar, Founder of Sid`s Farm. Image courtesy: IANS
Direct-to-consumer (D2C) dairy Sid's Farm on Tuesday announced that it has raised dollar 10 million in Series A funding from venture capital firm Omnivore and Narotam Sekhsaria Family Office (NSFO).
The company said it plans to use the funds to establish a strong presence in Hyderabad and Bengaluru by enhancing manufacturing capabilities to meet the growing demand for high-quality dairy products and building a robust team to attract and retain top talent across various functions.
"This investment will be instrumental in accelerating our growth trajectory and enabling us to provide fresh, healthy and responsibly sourced food to a wider audience in Hyderabad and Bengaluru," Dr Kishore Indukuri, Founder of Sid's Farm, said in a statement.
"We strongly believe that there is an opportunity to serve over 1,00,000 families every day in these two markets alone," he added.
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Founded in 2016, Sid's Farm serves over 25,000 customers across two cities. It controls the entire value chain of milk and milk products by sourcing directly from farmers and conducting rigorous quality testing throughout the supply chain to ensure nutrient-dense, additive-free milk.
According to IMARC Group reports, the dairy industry in India reached a size of Rs 6,792 billion in 2023 and is expected to reach Rs 49,953 billion by 2032.
"Premium dairy brands and products over D2C platforms are expected to lead this growth. We see Sid's Farm emerging as a key player in this space with its commitment to antibiotic-free, hormone-free, preservative-free milk and milk products," said Reihem Roy, Partner at Omnivore.
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