Dvara E-Dairy Solutions Pvt Ltd, an agri-fintech firm, has received $2 million in Pre-Series A funding from Axilor, an early-stage seed fund, and Dvara Venture Studio. The company was incubated at Dvara Holdings’ Dvara Venture Studio (formerly Dvara Trust).
Since its inception in 2019, Dvara E-Dairy has focused on solving the problem of small and marginal dairy farmers by developing an ecosystem platform and deploying cutting-edge technologies that enable access to appropriate financial and cattle management services.
Its Surabhi platform offers small and medium-sized dairy farmers comprehensive financial and cattle management solutions. It also allows financial institutions and value chain companies to make informed decisions about the dairy industry, according to the company.
With over 150,000 farmers impacted across seven states and over 100 partnerships tailored, Axilor’s investment will further accelerate Dvara E-growth Dairy’s plans into newer geographies, allowing it to scale up operations and invest in technology for better optimization.
“Dvara E-Dairy Solutions empowers small dairy farmers with preventive and primary care for their cattle while also improving financial inclusion through the use of cutting-edge technology.” With accurate reports, the innovative solution assists financial services companies in underwriting cattle activities and achieving scale. “We are thrilled to have Axilor as a partner on this journey, and we are confident that this investment will propel us forward in our mission to improve the livelihoods of millions of small and medium dairy farmers across the country,” said Ravi K.A, CEO, Dvara E-Dairy Solutions.
“India’s dairy economy is worth over $140 billion,” said Ganapathy Venugopal, co-founder and CEO of Axilor. “Despite its size and importance to farmers’ livelihoods, the sector employs few technologies. Cattle farmers lack the tools needed to measure and monitor their cattle’s health, and they frequently lack financial resources. E-technology Dairy’s has the potential to play a significant role in determining identity, improving cattle health, and increasing financial access to cattle farmers. We are excited to join E-Dairy on their journey to become India’s leading platform for cattle farmers.”
“Dvara Venture Studio has been focused on incubating ventures that help address market failures in financial inclusion at scale,” said Samir Shah, Executive Vice-Chair & Co-Founder, Dvara Holdings. “We are thrilled to be collaborating with Axilor and its team to help take Dvara E-Dairy to the next level by utilizing its proprietary bovine AI-based facial recognition tools and digital finance platform to assist India’s 90 million-plus smallholder cattle farmers.”
Dvara E-Dairy has developed a number of solutions as part of its Surabhi platform. Surabhi ID is a technology that uses muzzle images to uniquely identify each cattle; Surabhi Score for Financial Access (SSFA) is a digital assessment of the cattle that provide cattle-specific recommendations for financial services institutions and dairy farmers.
Dvara Surabhi is a DoItYourself (DIY) mobile application that allows farmers to know the cattle’s health status as an indicator in 60 seconds. Dvara Surabhi Loan – Surabhi Score + Credit Score to evaluate cattle activities and the borrower According to the company, tailored loan products for dairy farmers to buy or maintain cattle based on the Surabhi Score are available.
First published on: 02 Jun 2022, 07:59 IST