Exclusive: Dairytech Startup Stellapps To Raise INR 67 Cr From Qualcomm, Omnivore, Others

Exclusive: Dairytech Startup Stellapps To Raise INR 67 Cr From Qualcomm, Omnivore, Others

SUMMARY

Stellapps is raising the fresh round of funds from IndusAge Partners, Nutreco, ABB and others

The startup is looking to raise $15 Mn as part of a follow up round of Series B it raised in 2018

Stellapps has also increased its authorised share capital from INR 1,07,34,420 to INR 1,17,34,420

Bengaluru-based dairytech startup Stellapps is raising around INR 67 Cr in a follow-up round of its earlier raised Series B round. As per the regulatory filings accessed by Inc42, Stellapps will raise a fresh round of capital from IndusAge Partners, Qualcomm, Nutreco, ABB Switzerland, and Omnivore. The startup will be allotting 1,80,318 Series B1 CCPS to these investors. 

The new round of funding will be led by agri-focused venture capital Omnivore which will be allotted 49,812 Series B1 CCPSs (compulsory convertible preference shares) at a premium of INR 3,704. As per the filings, the startup is looking to raise upto $15 Mn from its Series B investors and new investors and INR 67 Cr seems to be the first tranche of the funds. 

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