eFeed, an Animal Nutrition Brand, Secures 1 Cr Funding from Klub

 

eFeed, an animal management and nutrition brand, has secured funding from revenue-based financing platform Klub, amounting to Rs 1 crore. This funding comes after the Pune-based startup raised $1 million (approximately Rs 8.2 crore) in a seed round led by Omnivore in January 2023.

The newly acquired capital will be directed towards expanding eFeed’s production capacity from 50 tons to 500 tons, enabling the company to meet the growing demand and scale its operations across multiple geographical locations, as outlined in a press release by eFeed.

Established in 2021 by Kumar Ranjan, Ravi Chauhan, and Ankit Patel, eFeed specializes in providing nutritional supplements for livestock. The company manufactures supplements containing essential vitamins, minerals, and microbes to enhance cattle health and improve milk production quality. These supplements provide cattle with the necessary nutrients to support their overall well-being and promote gut health.

eFeed is committed to promoting environmental sustainability and aims to incentivize emission reduction through carbon markets, aligning its business objectives with eco-friendly practices. The company reports a remarkable 10X growth in monthly revenue and sets ambitious targets, aiming for an annual income of Rs 100 crore by FY25. Additionally, eFeed boasts a substantial ecosystem comprising 1 lakh farmers, with 30% repeat users. The company has expanded its reach to Madhya Pradesh and Bihar and aims to extend its network to 10 lakh farmers by 2024.

In the competitive landscape, eFeed faces competition from other players such as AgroSonic, MeraPashu360, and Mooo.Farm. Moreover, on a global scale, eFeed competes with established brands like Virbac, Nutreco, and Elanco.

Klub, the funding provider, offers digital businesses access to fast and flexible capital without requiring equity dilution. Since its inception, Klub claims to have funded over 600 brands through more than 1600 investment rounds, emphasizing its commitment to supporting and empowering emerging businesses in the digital ecosystem.