Peer-to-peer livestock trading platform Animall has raised INR 44.45 Cr ($5.9 Mn) in Series A funding round led by Sequoia Capital. Omnivore Partners and LetsVenture Fund have also participated in the round.
According to the ministry of corporate affairs filings, Animall has allotted 53,832 Series A preference shares at an issue price of INR 8,264.9 per share. Sequoia Capital has led the round with an infusion of INR 22.2 Cr ($2.9 Mn) while Omnivore Partners INR 7.4 Cr ($1 Mn) and INR 2.03 Cr ($273K).
Prior to this, Animall had raised INR 15 Lakhs in a pre-seed funding round from Pratilipi’s vice president Gauri Kanekar and angel investor Rakesh Yadav. Later in June, the company raised INR 5.65 Cr seed round led by Beenext Asia, Shaadi.com’s founder Anupam Mittal and WEH Ventures had also participated in this round.
According to an Entrackr report, which first reported the development, the company is valued at INR 175 Cr ($23 Mn) in the latest transaction. The company’s valuation has grown 7x in the last six months, and was valued at INR 25 Cr during its seed funding round back in May.
Founded by Anurag Bisoyi, Sandeep Mahapatra, Libin Babu and Neetu Yadav in 2019, the company enables dairy farmers to sell and buy cattles on its platform, allowing them to save their time, money and efforts.
It also allows dairy farmers to connect and engage with experts and doctors on the platform. It’s services are available across all major parts of the country.
The platform operates mainly through its website and Android-based application called “Pashu Mela” and has over a million downloads on the Google Play Store app.
Sequoia Capital India has been named as one of the top 10 venture capital firms in India, according to Inc42 Plus report The State Of Indian Startup Ecosystem Report 2020.. It is based on investments made between January 2014 and the first half of 2020. Sequoia Capital is an American venture capital firm, headquartered in Menlo Park, California.
It is said to have assets worth $5.4 Bn under management in India, alone, spread across seven funds. The company has invested in nearly 245 companies in India including BYJU’S, Bira91, OYO, Khatabook, Rupeek, Meesho, and CRED.
The VC firm also holds an accelerator programmed called the Surge to mentor and invest in companies across Southeast Asia, including India. Every six months, Sequoia shortlists 15 to 20 startups for each cohort and provides a capital investment of $1 Mn to $2 Mn with participation from other investors.