Digivriddhi (DGV) has raised $6 million (approximately Rs 50 crore) in the Series A funding round. The round was led by impact investment firm Omidyar Network India, with participation from existing investors Omnivore and InfoEdge Ventures.
Digivriddhi is an integrated fintech and marketplace platform focusing on the dairy industry. It focuses on improving the livelihood of dairy farmers through its neobanking features and online marketplace platform. Its products include DGV Pay for simplifying payments, DGV Money to provide loans, and DGV Connect for connecting buyers and sellers through its marketplace.
The company has collaborated with the leading Indian dairy brand Amul, and for banking partnerships, they have partnered with banks like Federal Bank, HDFC Bank, and Karnataka Bank. With the new investment raised in this Series A, the company will expand its market reach across India, focusing on states like Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, and Maharashtra. The company will also invest in tech innovations and product expansion.
The company’s founder, MD, and CEO is Ragavan Venkatesan, and it is headquartered in Bengaluru, Karnataka, India.