EFeed Secures Rs 1 Crore Funding Boost from Klub for Expansion in Animal Nutrition Market
EFeed, a Pune-based startup specializing in livestock management and nutrition, has secured a significant funding injection of Rs 1 crore from Klub, a leading revenue-based financing platform.
The funding, announced following a successful seed funding round led by Omnivore in January 2023, marks a crucial milestone for eFeed’s expansion plans. With this latest capital infusion, the company aims to ramp up its production capacity from 50 tons to 500 tons, enabling it to meet the escalating demand for its nutritional supplements across diverse geographical regions.
Co-founded in 2021 by Kumar Ranjan, Ravi Chauhan, and Ankit Patel, eFeed has carved a niche for itself in the animal nutrition space by offering a comprehensive range of supplements enriched with essential vitamins, minerals, and beneficial microbes. These supplements are tailored to enhance the quality of milk produced by cattle while promoting overall livestock health and gut function.
Highlighting its commitment to environmental sustainability, eFeed plans to leverage the funding to incentivize emission reduction through participation in carbon markets. By aligning its business objectives with sustainability goals, the company seeks to drive positive environmental impact alongside its growth trajectory.
The latest investment round underscores eFeed’s impressive growth trajectory, with reported monthly revenue surging by a remarkable 10X. Looking ahead, the company has set ambitious targets, aiming to achieve an annual revenue of Rs 100 crore by the fiscal year 2025. With a substantial ecosystem comprising 1 lakh farmers, including 30% repeat users, and expansions underway in regions like Madhya Pradesh and Bihar, eFeed is poised for further expansion, targeting a farmer base of 10 lakh by 2024.
While eFeed faces competition from established players such as AgroSonic, MeraPashu360, and Mooo.Farm in the animal nutrition space, the company remains globally competitive, vying with industry giants like Virbac, Nutreco, and Elanco.
Klub, the funding partner in this latest endeavor, provides digital businesses with access to rapid and flexible capital infusion without equity dilution. With a proven track record of supporting over 600 brands across more than 1600 investment rounds, Klub emerges as a valuable ally for startups seeking growth financing.
In summary, eFeed’s successful funding round signifies a significant milestone in its quest to become a prominent player in the animal nutrition industry. With strategic investments and a steadfast commitment to sustainability, the company is well-positioned to capitalize on emerging opportunities and drive innovation in the sector.