B2B dairy tech startup Mr Milkman doubled its revenue last year, and is milking most of the opportunities that the unorganised dairy sector provides
(L-R) Abhishek Goel and Samarth Setia
Image: Mr Milkman
Samarth Setia, co-founder of B2B dairy tech startup Mr Milkman thrives in chaos.
India might be the largest milk producer in the world with over 75 million dairy farms that produce over 150 million tonnes of milk per year, but the sector remains highly chaotic with only 25 percent of the milk produced in the rural households sold in the Rs 100,000 crore organised market.
“We see great opportunity in organising this chaos,” Setia says, who founded Mr Milkman in 2017 and later roped in Abhishek Goel as a co-founder. Mr Milkman, which raised angel funding from Anil Arya and Bimal Arya, the co-founders of mosquito repellent brand All Out, empowers dairy farms and milk brands with a cloud-based SaaS (software as a service) platform. It helps the dairy farmers predict demand, procurement, track the product lifecycle, plug the leakages, last-mile delivery, and manage unsold inventory. It also helps the producers plan production in a better way to cut losses.
Being a B2B player, Setia reckons, is better than being the more glamourous B2C counterpart. “B2C always sounds more exciting but the risk running out of funds and shutting shop is higher [in B2Cs] compared to a B2B player,” he says in an interview with Forbes India. Edited excerpts:
Q. How was the last year for the startup in terms of revenue growth?
2019 has been a great year for us. We almost doubled our revenue from Rs 22 lakh in 2017-18 to Rs 41 lakh in March-end in 2019. We are now striking a revenue run-rate of Rs 2 crore. Today Mr Milkman is one of the largest dairy tech players in India, and works with over 50 milk brands and dairy farms across the country. Some of our top clients include Milk Mantra, Raw Pressery, Yakult, Gyan Dairy, Akshayakalpa, House of Nanak, Health Ways and Whyte Farms.