Stellapps, a Bengaluru-based dairy-tech firm, has significantly grown its private label business, mooMark, by leveraging its IoT platform to serve major brands in India. The company expects to reach ₹750 Cr revenue by FY26 and plans for an IPO by FY29, focusing on contract manufacturing dairy products.
Stellapps, a leading Bengaluru-based dairy-tech firm, is making significant strides in the private label dairy product sector through its subsidiary mooMark. Originally designed as an IoT platform for optimizing milk supply chains, Stellapps has evolved into a key player in contract manufacturing dairy products such as milk, paneer, ghee, and curd. Today, mooMark serves a variety of major brands, including Zepto, HUL, ITC, and hospitality giants like Sheraton and Lalit, generating 85% of Stellapps’ total revenue.
The company chose not to launch its own consumer-facing brand, instead opting to leverage its operational expertise and technology-driven backend to serve the needs of established B2C brands and quick commerce players. This strategy has allowed Stellapps to offer fresh, low-shelf-life dairy products, a distinct advantage over traditional players like Amul and Mother Dairy.
In October 2024, Stellapps secured ₹216 Cr ($26 million) in a Series C funding round, which it plans to use to expand its processing capacity. The company aims to achieve ₹750 Cr in revenue by FY26, with an eventual target of ₹2,000 Cr by FY29, at which point it intends to pursue an IPO. Currently, Stellapps generates 10% of its revenue from IoT services and 5% from farmer financing and agri-input linkage services.
The rapid growth of Stellapps’ mooMark model reflects the increasing demand for private label dairy products in India, driven by the booming quick commerce sector. For entrepreneurs and investors, Stellapps offers a valuable case study in building a tech-driven backend supply chain that aligns with emerging market trends.
