ABB has invested an undisclosed sum in IIT-Madras incubated Bengalaru-based startup, Stellapps Technologies, through its venture capital unit, ABB Technology Ventures (ATV). This is ATV's first investment in India.
The Series B investment round was led by IndusAge Partners and included new participants Qualcomm Ventures and Bill & Melinda Gates Foundation (through its project-related investment team in London).
Stellapps offers end-to-end dairy supply chain solutions that are used by over 750,000 farmers. Founded in 2011, the Bengaluru-based startup is building automated tools leveraging Internet of Things (IoT) and advanced analytics to improve milk production and quality for the country's dairy farms, collection centres and processors.
In addition to the equity investment, Stellapps has separately initiated a strategic collaboration with ABB to create a digital offering for Indian customers to address operational challenges.
Stellapps CEO Ranjith Mukundan said: “Stellapps is entering a stage of accelerated growth, and this strategic group of investment partners will be very valuable to scale up our technology platform. We are excited to partner with ABB Technology Ventures and tap into ABB’s expertise and global reach for industrial automation solutions, particularly for food & beverage.”