Digivriddhi Technologies is India’s first dairy fintech which is also an integrated marketplace platform. The aim is to foster the entire ecosystem of the dairy industry by helping in the livelihood of dairy farmers.
Digivriddhi – Founders
This dairy tech company was founded by Mr Ragavan Venkatesan in 2019. It is based in Bengaluru, Karnataka, India. The Digivriddhi platform has a network of a total of 80 million dairy farmers including the well-known dairy enterprise Amul.
Dairy is known to be the biggest marketplace of India and has a contribution of around 25% of the total agricultural GDP of India. The contribution of dairy is targeted to be around 350 billion by the year 2025. The dairy tech Digivriddhi is associated with various Milk Societies or Federations to cultivate an opportunity to work with and support dairy farmers. They help the farmers and milk co-operative societies with ease in payments, liabilities, and other assets through their collaboration with the Federal Bank, HDFC Bank, and Karnataka Bank.
Digivriddhi – Offerings
The platform offers three services called as DGV Pay, DGV Money, and DGV Connect. The DGV Pay helps in aiding the payment procedures for the dairy chains. DGV Money helps in getting easy access to digital loans to the dairy co-operative societies and cattle loans to the dairy farmers. DGV Connect is like the marketplace integrating the sellers and buyers under one platform for the various finance options available digitally.
One of the great services offered by DigiVriddhi technologies is to have your micro dairy enterprise. They assist with the selection of the right site for the dairy farm, selection of the appropriate design and layout, cattle shed construction and other civil infrastructures, arrangement of the infrastructure for the dairy farms, assisting the installation and commissioning of the equipment, help you select the best bovine breed at the suitable price and its transportation to the farm, choosing the right nutrition and supplements for the cattle, looking after the milking routine, hygiene practices, and vet services online. Any sort of financial assistance is taken care of by the DGV services.
Digivriddhi – Fundings
Digivriddhi Technologies has raised a total amount of $ 6 million or Rs 50 crore in the latest Series A funding round. The lead investor is the Omidyar Network India with other participants backing up like Info Edge Ventures and Omnivore. Earlier this, an amount of $ 3.1 million was raised in a seed round funding with the principal investors Info Edge Ventures and Omnivore with some other angel investors. The potential competitors of the
company are PostEx, Finja, and LianLian Pay.
Concluding Thoughts
This dairy tech works with almost 75% of the dairy processing units in Gujarat. This accounts for supporting around 3.6 million dairy farmers. The company has further expanded its foothold in other locations such as Maharashtra, MP, Karnataka, Telangana, and AP. The company aims to utilise these funds to further expand geographically to other locations.
