Sid’s Farm, a bootstrapped, direct-to-consumer dairy brand based in Hyderabad, has raised USD 1 million in a bridge round from its loyal customers, many of whom became first-time angel investors.
Hyderabad, 17/01/2023: Sid’s Farm, a direct-to-consumer dairy brand based in Hyderabad, has successfully raised $1 million USD in a bridge round of funding from its loyal customers and their referrals. As a bootstrapped company, this is the first time the brand has received funding and the support of its customers is a testament to the credibility, quality, and customer experience that Sid’s Farm has built. The funds will be used to develop new products, upgrade infrastructure, increase retail presence, and implement digital transformation to drive the company’s future growth.
Since its founding in 2016 by Dr. Kishore Indukuri, Sid’s Farm has become known for its pure milk and clean production methods, with a focus on ensuring that their milk and dairy products contain no traces of antibiotics, hormones, or preservatives. With a model farm, state-of-the-art laboratory, and modern production facility, Sid’s Farm is dedicated to providing over 15,000 customers with healthy and safe dairy products.
“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 & 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 adoption of technology, Sid’s Farm’s approach is simple and the agile. It’s a pleasure to be associated with Kishore and Sid’s Farm in their endeavour to provide pure dairy products” said Mr. Sunil Kumar Potturi, a lead investor in this round.
Another lead investor Mr. Lohit Reddy had this to add, “Consumer demand for healthy products is on a rise. Today, people are willing to pay a premium for a healthy version of traditional products. Dairy is playing a key role in health & wellness of working class and this premium market for dairy is likely to grow multi-fold. 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.”
Other investors in the round include Shilpa Chowdari, Praveena Edupganti, Feroz Mohammed, Goutham Kumar Reddy, Kapil Godani, Kiara A Duhlani, Haregour Nayak, Raviteja Chunduru, Dr. Abhinav Gorukanti, N Ramanjaneya Reddy, Sudheer Chukkapalli, VVR Abhijit, Hapgrow Private Limited, Lekhya Entertainment Private Limited, S. Lakshmi Phani, Tao Capital Private Limited, and Vinit Rai. Sid’s Farm has also recently expanded into the Bengaluru market as part of its growth strategy.
The organized dairy industry in India is projected to experience a strong rebound of 12% year-over-year this fiscal year, reaching a total revenue of ₹1.6 lakh crore, according to a report by Statista. The report also states that the percentage of organized milk sales in India that come from online sales has increased from 0.5% in 2017 to 2.1% currently. The shift to online purchasing of milk and groceries has accelerated during the pandemic and the current market conditions are highly favorable for brands like Sid’s Farm which focus on pure, high-quality dairy products.