Milk Mantra raises $10 million from US-based DFC, gets tech package too

The dairy start-up has cumulatively raised Rs 300 crore, which will be largely invested in Odisha to empower local dairy farming community and create indirect jobs

Milk Mantra, an Odisha-based new-age dairy food start-up, has raised $10 million (about Rs 80 crore) from US International Development Finance Corporation (DFC).

DFC has also approved $371,000 (Rs 2.8 crore) in technical assistance to increase the impact of its loan to Milk Mantra. The 80-crore investment by the US DFC is the first direct and substantial investment into Odisha. This investment potentially opens up the opportunity to attract more investment from US DFC into not only Odisha but also other neighbouring states in the east.

With this investment,