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Amul Joins Hands with COVAP to Bring Iconic Indian Milk to Spain!
StartupTalky
·
2m ago
Medial
Amul, India's leading dairy cooperative, has partnered with Spain's COVAP to introduce its iconic milk in Spain and the EU. The rollout begins in Madrid and Barcelona, with future plans to enter other European markets like Germany and Italy. This strategic move aligns with India's broader vision for global dairy expansion. COVAP processes over 400 million litres annually, supporting a significant number of dairy farmers. Amul recently hiked milk prices to benefit producers.
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Milk Mantra posts INR 12.3 Cr loss in FY23 as sales remain flat
Inc42
·
1y ago
Medial
Bhubaneswar-based dairy tech startup Milk Mantra reported a net loss of INR 12.3 Cr in FY23, slipping into the red after two profitable years. Operating revenue remained flat at INR 272.9 Cr, indicating challenges in scaling up the business. The company's expenditure increased by 13% to INR 289.4 Cr, with the highest amount spent on procurement. Milk Mantra sells packaged milk, curd, paneer, lassi, mishti dahi, and flavoured milkshakes under the brands Milky Moo and Moo Shake. It competes with startups like Country Delight and Stellapps, as well as dairy giants like Amul and Mother Dairy.
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Fake AI-generated Amul cheese doing rounds on social media
Livemint
·
1y ago
Medial
Amul, the Indian dairy brand, has dismissed social media rumors about the launch of a new cheese brand. The company issued a statement clarifying that a fake message is being circulated on platforms like WhatsApp, falsely claiming the launch of a new type of Amul Cheese. They emphasized that the pack shown in the post is not Amul Cheese and urged consumers to share the message to dispel misinformation and unnecessary concerns. Amul has previously dismissed viral videos alleging fungus in their products, stating they were fabricated.
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How This Dairy Tech Startup Is Declogging Milk Supply Chain Bottelneck In India
Inc42
·
9m ago
Medial
ORIGHT, a startup founded in 2019, aims to bring transparency and efficiency to the dairy supply chain. They use advanced technology and a mobile app to streamline the milk procurement process and ensure timely payments to farmers. They have partnered with Ananda, a major dairy company, to implement their solution, resulting in cost savings and improved milk quality. ORIGHT recently raised $1 million in funding from Aeravti Ventures. However, India's struggles with meeting international sanitary standards and certification requirements hinder its presence in the global dairy export market.
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Upscale ice-cream lounges, organic line in works: Amul
Livemint
·
1y ago
Medial
Amul is expanding its presence with premium ice cream parlours and organic tea and spices to tap into growing demand.
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This Startup Has A Saucy Solution For Nutrition Deficiency In Indian Kids
Inc42
·
10m ago
Medial
Troovy, a startup in the Indian market, aims to provide chemical-free, nutritious sauces, healthy milk mixes, and high-protein pasta and snacks. The company recently raised INR 10.5 crore ($1.25 million) in seed funding, with participation from investors such as Sharrp Ventures, Earlyspring, and Veltis Capital. Troovy's product range includes sauces and spreads that are free of chemicals and packed with nutrients, as well as a milk mix that contains iron, essential vitamins and minerals, and plant-based protein.
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How Indian Dairytech Startups Are Spearheading White Revolution 2.0 In India
Inc42
·
1y ago
Medial
Indian dairy startups are leveraging technology such as IoT, AI, and ML to revolutionize the country's dairy sector. These startups are addressing critical gaps in sourcing, storage, supply, and distribution of dairy products. They are improving milk quality, enhancing yields, and combating issues like poor feed quality and animal healthcare. Indian dairy startups have also emerged to cater to lactose-intolerant individuals and vegans. Additionally, startups focused on logistics, distribution, and financing for dairy farmers have made significant strides. Despite challenges like milk quality, methane emissions, and limited adoption of technology, the Indian dairy sector holds immense growth potential.
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Meta’s 2025 vision: Ray-Ban Smart Glasses to get built-in display, report suggests
Livemint
·
7m ago
Medial
Meta is reportedly planning a major upgrade for its Ray-Ban smart glasses, adding built-in displays expected in a new version to be released in 2025. This would provide notifications and seamless interaction with Meta's AI technology, offering a more immersive and hands-free user experience. The current glasses have been praised for their combination of advanced technology and iconic Ray-Ban design, but the lack of a visual display has limited their functionality compared to rivals. Samsung and Google are also working on their own smart glasses with advanced AI features, intensifying competition in the market.
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Hatsun Agro acquires Eight Road Ventures-backed Milk Mantra
Entrackr
·
6m ago
Medial
Hatsun Agro acquires Eight Road Ventures-backed Milk Mantra Milk Mantra has raised nearly $35 million from the likes of Aavishkaar Venture Capital, Fidelity Growth Partners, Neev Fund, Eight Roads Ventures and US-based DFC. Hatsun Agro Product Limited (HAP), a dairy product manufacturer, has announced the acquisition of 100% of the share capital of Milk Mantra for Rs 233 crore ($27.5 million). This acquisition aims to strengthen HAP’s presence in the Eastern India dairy market, particularly in Odisha, where Milk Mantra’s brand, ‘Milky Moo’, has established a strong foothold, the company said in a stock exchange filing. The acquisition will be completed through a series of Share Purchase Agreements (SPAs) and other transaction documents with Milk Mantra’s existing promoters and shareholders. Post acquisition, Milk Mantra will become a wholly-owned subsidiary of HAP. Milk Mantra has raised nearly $35 million from the likes of Aavishkaar Venture Capital, Fidelity Growth Partners, Neev Fund, Eight Roads Ventures and US-based DFC. Established in 2009, Milk Mantra provides a range of products including milk, curd, cottage cheese, buttermilk, and cattle feed, among others. This acquisition seems to be a slump sale, given that Milk Mantra reported an operating revenue of Rs 276.42 crore in FY24, while the acquisition cost is Rs 233 crore. The Bhubaneshwar-based company also recorded a profit of Rs 9.78 crore in the last fiscal year. However, its revenue has remained nearly stagnant over the past three fiscal years. Milky Mist, a well-established company, reported revenue of Rs 1,907.21 crore in FY24, positioning itself as one of the leading players in the D2C dairy brand sector. According to media reports, Milky Mist is also planning an initial public offering (IPO) this year, aiming to raise approximately Rs 2,000 crores through the listing. Milk Mantra also faces competition from new age companies like Country Delight, Akshayakalpa, and Sid’s Farm. ‘Grow or die’ seems to be the mantra that sank Milk Mantra, as its inability to break out of the rut saw it sold for a valuation that is less than 1x sales, despite profitability to boot. It also indicates a high share of liquid milk in the portfolio, where margins again are severely limited till the time you try a stunt like A2 milk or other options and get away with it long enough. For the publicly listed, Chennai-based Hatsun, the acquisition would seem to be a decently valued fit for its portfolio, improving its footprint significantly at an acceptable cost. Which explains the little movement in the stock price post announcement as well.
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Warner Bros. Pictures, Bhanushali Studios Limited and JOAT Films announce a five-film strategic partnership
Economic Times
·
1m ago
Medial
Warner Bros. Pictures, Bhanushali Studios Limited, and JOAT Films have announced a five-film strategic partnership to create Indian adaptations of iconic Warner Bros. titles. This collaboration aims to blend Warner Bros.' storytelling legacy with Indian cultural narratives for global audiences. The venture will highlight India’s vibrant film market, seeking to resonate with both local and international viewers by infusing familiar stories with Indian creativity and emotion. Development for the first title is underway.
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TeamLease EdTech, Labour and Employment Ministry ink MoU to enhance employability
Economic Times
·
8m ago
Medial
TeamLease EdTech has partnered with the Ministry of Labour and Employment to enhance employability through work-linked degree programs. The agreement will bring over 200 work-linked degree programs with embedded internships to the National Career Service (NCS) portal, offering more than 500,000 hands-on learning opportunities. Using their digital platform, Digivarsity, TeamLease EdTech aims to provide live internship opportunities to students across India, bridging skill gaps and preparing a job-ready workforce aligned with the country's changing job market. This collaboration aims to make a significant impact on employability in India.
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