RANCHI, 13 December 2016 : Dairy startup, Osam has raised $6.7 million (Rs 45 crore) in Series B funding from Lok Capital-advised Growth Catalyst Partners.
In the latest raising, Aavishkaar also participated in this round, which is already invested in the startup.
Osam is a brand name of Rachi based HR Food Processing Pvt. Ltd, which manufactures and markets dairy products.
The company said that it will use the funds to expand its production capacity and enhance its distribution outreach into neighbouring districts in Jharkhand and Bihar.
Osam have been catering the states of Jharkhand and Bihar, where it sells milk, curd, lassi, and paneer to retailers.
The company purchase over 40,000 litres of milk per day from over 10,000 dairy farmers.
In order to expand its operations, the company want to expand its reach to other eastern states, such as West Bengal and Odisha.