US International Development Finance Corporation has now committed a $10 million loan to Milk Mantra, an Odisha based new age diary food startup in India.
Ajay Rao, Director of DFC’s Social Enterprise Finance Team, who led this transaction, said,
“We have been very impressed by the Milk Mantra team and its efforts to build a socially responsible business that empowers smallholder farmers while strengthening food security.”
Srikumar Misra, Founder, Milk Mantra added,
“We have developed an ethical sourcing model that looks to revitalise rural economies, increase farmers’ yields, and provide farmers, their families, and their communities with growth opportunities while we scale up a mass-premium food brand that’s nourishing the lives of consumer families.”
Milk Mantra was set up in 2009 to solve the problem of trust deficit between consumers and food in the large $50 billion dairy industry in India.
