Vinod Khosla-backed Milk Route looks to raise $10 mn

MokshaYug Access (MYA), a rural supply chain enablement company in the dairy segment, is looking to raise Rs 50-60 crore by the second half of 2013. The company had earlier raised Rs 40 crore, including infusion from American businessman and venture capitalist Vinod Khosla and Unity Equity fund. The company as part of its growth initiatives has launched its dairy brand, Milk Route. Harsha Moily, son of petroleum and natural gas minister Veerappa Moily, started MokhsaYug in 2006 as a microfinance firm. Since then, it has reshaped its business model to become a rural supply chain solutions provider with facilities to collect milk everyday from farmers in south Karnataka. Over the next three years, MYA aims to spread its network in southern and western India and generate revenues of more than Rs 500 crore among others.