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Dairy fintech platform DGV raises $6-M led by Omidyar Network

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Dairy fintech startup Digivriddhi Technologies (DGV) has raised INR 50 crore (USD 6 million) in a Series A funding led by Omidyar Network India. The round also witnessed participation from existing investors Omnivore and InfoEdge Ventures. DGV will use the fresh funds to expand the company's outreach and advancements in technology. Founded in 2019 by Ragavan Venkatesan, DGV provides dairy farmers and microenterprise access to institutional credit while easing and digitising payments across the dairy value chain. In Gujarat, DGV collaborates with 75% of the region's dairy processors, including Amul, to establish the last mile financial access infrastructure for 3.6 million dairy farmers. It is now extending its reach into Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, and Maharashtra, offering a wide range of banking, financial services, and insurance products. DGV had raised a seed funding round of USD 3.1 million, led by Omnivore and InfoEdge Ventures, along with some angel investors, in November 2021.