Dairy nourishments organization Milk Mantra on Friday said US International Development Finance Corporation (DFC) has submitted $10 million (over Rs 76 crore) for organized obligation financing to the organization. 

DFC has likewise endorsed $3,71,000 (about Rs 2.8 crore) in specialized help to help the organization's agribusiness augmentation administrations and moral milk sourcing program, as indicated by an announcement. 

"The principal focal point of this is to work out Milk Mantra's advanced monetary administration's stage for its system of ranchers. This stage will drive money related incorporation for ranchers, particularly ladies ranchers," it included. There are about 100 million dairy ranchers in India with a critical extent being ladies. 

The organization was established in August 2009 by the previous executive of Tetley, Srikumar Misra, alongside Rashima Misra and began activities in 2012. Its milk sourcing system has developed to more than 60,000 ranchers. The organization said it has scaled its income from $2 million out of 2012-13 to $32 million of every 2019-20 and arrives at more than 3 lakh families day by day. The organization works in Odisha, West Bengal, and Jharkhand. 

Milk Mantra has brought $25 million up in investment financing more than four rounds from speculators like Eight Roads (already Fidelity Growth Partners), Neev Fund, and Aavishkar VC. 

"At Milk Mantra, we line up with DFC's emphasis on improvement sway. We have built up a moral sourcing model that hopes to renew country economies, increment ranchers' yields, and give ranchers, their families, and their networks with development openings while we scale up a mass-premium food brand that is sustaining the lives of buyer families," Milk Mantra author Srikumar Misra said.

(PTI)