Sid’s Farm raises $1mn in bridge round from its loyal customers
Loyal customers and their close aides from diverse backgrounds turned out to be first-time angel investors while investing in this bootstrapped, D2C dairy brand based out of Hyderabad. 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 to health every day.
Sid’s Farm, a Telangana-based direct-to-consumer (D2C) dairy brand, has raised $1mn in bridge round from its customers and their referrals. Being a bootstrapped enterprise driven by organic growth so far, this first fundraise from its high net-worth customers and their referrals is testimony to its brand credibility, superior quality and unparalleled customer experience. This was stated in a Sid’s Farm press release.
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, says the release. 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 to health 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 endeavour to provide pure dairy products,” said Sunil Kumar Potturi, a lead investor in this round.
Another lead investor Lohit Reddy said, “Consumer demand for healthy products is on a rise. 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.”
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 per cent year-on-year this fiscal to Rs 1.6 lakh crore, says the release. As per a report from Statista, online sale of milk has grown to 2.1 per cent of organized milk sale in India from 0.5 per cent 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.