Indian dairy startup Milk Mantra secures US$10m from US development finance institution

INDIA –Milk Mantra, an Indian dairy startup based in Odisha, has secured US$10 million in a structured debt financing agreement from the US International Development Finance Corporation (DFC). Milk Mantra procures, packages, sells and delivers milk and other dairy products. The company was founded in 2009 and started operations in 2012. Over the years, Milk Mantra has grown its milk sourcing network to over 65,000 farmers and further grown its revenues significantly. The company said it has scaled its revenue from US$2 million in 2012-13 to US$32 million in 2019-20,…

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