Direct-to-consumer dairy brand, Sid’s Farm has raised $1 million in a bridge round from its customers and their referrals. Being a bootstrapped enterprise driven by organic growth so far, this first fundraising from its high net-worth customers and their referrals is testimony to its brand credibility, superior quality, and unparalleled customer experience.
The company shall use this fund for new product development, infrastructure upgrades, deeper retail penetration, and digital transformation in order to gear up for future trajectory.
Founded in 2016 by Dr. Kishore Indukuri, Sid’s Farm has now become synonymous with pure milk and clean production. As a brand promise, Sid’s Farm is trying to revolutionize the testing of milk ensuring no traces of antibiotics, hormones, or preservatives in the milk and dairy products. With a model farm, state-of-the-art laboratory, and modern production facility at Chevella near Hyderabad, Sid’s Farm ensures that more than 15,000 customers wake up healthy every day.
“We have been bootstrapped all these days and I cannot be thankful enough for our customers who have come forth and placed their trust in our vision by investing in our brand,” said Dr.Kishore Indukuri, Founder and MD at Sid’s Farm.
“With pure grit and determination, Kishore has built a dairy brand that stands out from the rest in terms of product quality and on-time delivery. In an industry that’s largely fragmented and has traditionally been slow in the adoption of technology, Sid’s Farm’s approach is simple and agile. It's a pleasure to be associated with Kishore and Sid’s Farm in their endeavor to provide pure dairy products,” said Sunil Kumar Potturi, a lead investor in this round.
Lohit Reddy, Another lead investor said, “Consumer demand for healthy products is on a rise. Today, people are willing to pay a premium for a healthy version of traditional products. Dairy is playing a key role in the health and wellness of working class and this premium market for dairy is likely to grow multi-fold. Under Kishore's leadership, Sid's Farm is the leading contender to becoming India's healthiest B2C dairy brand with its exemplary commitment to purity and transparency with its customers.”
Other investors include Shilpa Chowdari, Praveena Edupganti, Feroz Mohammed, Goutham Kumar Reddy, Kapil Godani, Kiara A Duhlani, Haregour Nayak, Raviteja Chunduru, Dr. Abhinav Gorukanti, N Ramanjaneya Reddy, Sudheer Chukkapalli, VVR Abhijit, Hapgrow Private Limited, Lekhya Entertainment Private Limited, S. Lakshmi Phani, Tao Capital Private Limited, and Vinit Rai.
“Sid’s Farm would like to thank each of them who placed immense trust in its vision” added Dr. Kishore Indukuri. Incidentally, Sid’s Farm has also recently forayed into the Bengaluru market as a part of its expansion plan.
The revenue of India's organized dairy industry is expected to rebound a solid 12 percent year-on-year this fiscal to Rs 1.6 lakh crore. As per a report from Statista, online sale of milk has grown to 2.1 percent of organized milk sale in India from 0.5 percent in 2017.
The adoption of online milk and groceries has accelerated since the beginning of the pandemic and the landscape currently is extremely promising for pure-play dairy brands like Sid’s Farm.