Animal nutrition brand eFeed raised Rs 1 Cr funding from revenue-based financing platform Klub
The revenue-based financing platform Klub has granted Rs 1 crore to the animal management and nutrition brand eFeed.
The Pune-based startup had previously raised $1 million (approximately Rs 8.2 crore) in January 2023 during a seed round that Omnivore led.
According to a press release from eFeed, the additional funds will go toward increasing capacity from 50 tons to 500 tons in order to generate enough products to scale across several regions.
eFeed, which was co-founded in 2021 by Kumar Ranjan, Ravi Chauhan, and Ankit Patel, provides dietary supplements for livestock and makes supplements containing microbes, vitamins, and minerals to aid in cattle production of higher-quality milk. The goal of the supplements was to improve gut health and provide cattle with the right nutrients to live longer, healthy lives.
It seeks to align corporate goals with environmental sustainability by using carbon markets as an incentive for emission reduction, according to eFeed. According to the company, monthly revenue has increased by 10 times, and in FY25, it hopes to reach an annual revenue of 100 crore. Additionally, it claims to have one lakh farmers within its ecosystem, thirty percent of its users are repeat customers, and it has grown to include Madhya Pradesh and Bihar with plans to reach ten lakh farmers by 2024.
AgroSonic, MeraPashu360, and Mooo are the other contenders in this field.Virbac, Nutreco, and Elanco are competitors of Farm and eFeed on a global scale.
Klub gives digital companies quick access to flexible funding without requiring stock dilution. It states that it has contributed to more than 1600 investment rounds and more than 600 brands since its founding.
