Organic dairy startup Akshayakalpa Organic is raising Rs 175 crore (around $19 million) in its Series D round led by ABC Impact Fund, with participation from existing investors.
According to regulatory filings sourced from the Registrar of Companies (RoC), the company’s board has passed a special resolution to issue 36.81 lakh Series D compulsory convertible preference shares at an issue price of Rs 475 per share to raise the aforementioned amount.
ABC Impact, through IMP2 Growth Pte Ltd, is set to lead the round with an investment of Rs 101 crore. Among other participants, Rainmatter will invest Rs 21 crore, while Asha Ventures and Catamaran Ventures will infapply Rs 16 crore each. Existing investors, including Waterfield Fund, Pratithi Growth Fund, and A91 Partners, are expected to contribute the remaining capital.
As per Entrackr’s estimates, the round values the company at around Rs 1,600–1,700 crore on a post-money basis. The proceeds will be utilised for working capital requirements and expansion initiatives, as per the filings.
Sources indicate that the round also includes a secondary component, with ABC Impact Asia facilitating exits for early investors such as Venture Dairy and others.
Entrackr has reached out to Shashi Kumar, CEO of Akshayakalpa Organic, for comments, but the company declined to respond.
The company is reportedly in talks to raise Rs 350 crore in the new round.
Founded by GNS Reddy and Shashi Kumar, Akshayakalpa Organic delivers organic milk and dairy products to over 60,000 consumers daily across Bengaluru, Hyderabad, and Chennai via its direct-to-consumer platform. The company’s products are also available in more than 2,000 retail outlets and across major e-commerce and quick commerce platforms.
During FY25, Akshayakalpa Organic reported 38% year-on-year growth to Rs 387 crore, while the net losses of the company remained stable at Rs 27.3 crore during the same period.
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