Dodla Dairy Limited, a Hyderabad, India-based fresh dairy product company offering a wide range of milk products throughout South India, raised $50m in funding.
The Rise Fund, which is managed by TPG Growth, has agreed to make the investment, which is subject to regulatory approval.
The company intends to use the funds to expand its efforts in operating its procurement network fairly, transparently, and efficiently—supporting farmers’ needs.
Founded in 1995 by D. Sesha Reddy and D. Sunil Reddy, Dodla procures, processes, and sells dairy products, including fresh milk, butter, ghee, paneer, curd, flavored milk, doodh peda, ice cream, and skimmed milk powder across 66 regions in South India. Working with more than 3,000 distributors across 9 states, the company’s products are sold by more than 50,000 retail outlets across the country.
Dodla sources milk from 250,000 farmers across 7,000 villages every day of the year.
In addition, working with regional banks, the company enables more than 2,300 farmers to secure financing to invest in their production capabilities.