Milk Mantra Raises INR800 Million from Fidelity Growth Partners and Aavishkaar (Asia)

Source: Unitus Capital

India-based dairy foods company Milk Mantra has raised INR800 million (approximately US$13.3 million) in a Series C financing round led by Fidelity Growth Partners India, the India-focused private equity arm of Fidelity Worldwide Investment. Early-stage investor Aavishkaar also participated in the round through its fund Aavishkaar India II. The transaction provided an exit for angel investors as well as for Aavishkaar, which had previously invested in the company through its Aavishkaar India Micro Venture Capital Fund. The funding will be used to help Milk Mantra expand its operations across Eastern India.