US-based Dairy.com has acquired 100 per cent stake in startup Mr. Milkman, marking its entry into the Indian market.
Dairy.com, one of the leading dairy technology, services, and intelligence providers, has made its first investment in India with the acquisition of Mr. Milkman, a company statement said. Mr. Milkman is a last-mile dairy supply chain SaaS platform.
"The company has acquired a 100 per cent stake in Mr. Milkman to strengthen its integrated supply chain solution offerings for dairies worldwide," the statement said.
The two companies will use their combined agribusiness technologies, development resources, and industry expertise to enable and innovate last-mile dairy supply chain solutions for markets in India and abroad. Post-acquisition, Dairy.com will invest in further enhancing the Mr. Milkman last-mile delivery platform and developing various solutions for the dairy industry in India. The investment will include nearly tripling the size of the staff to serve the dairy market, it added. India is the world”s largest producer and consumer of milk and dairy products. Additionally, there is a huge growth potential with value-added products such as cheese, yogurt, probiotic drinks, flavoured milk, ice cream, and other products.
"Indian dairy sector and milk brands in India will need to employ technology at every level, right from procurement of milk to last delivery mile in order to grow and be successful," said Mr. Milkman Chief Executive Officer and co-founder Samarth Setia.
Stating that milk brands in India and around the world operate on slim margins, he said the only way to grow profits is to become more efficient through the implementation of technology.
"Our entire company is proud to be joining the talented Dairy.com team to accelerate the development of our last-mile delivery solution to meet the rising customer needs. We also look forward to providing some of the most advanced solutions Dairy.com has to offer to the milk brands in India," Setia said.
Mr. Milkman said its platform is used by over 60 Indian dairy brands. It enables dairy food product companies to efficiently manage multiple aspects of dairy distribution, supply chain, customer subscriptions, and delivery requests.
