The dairy company, named the MokshaYug Access (MYA) has recently informed through an official statement that the private equity fund, Unitus Equity Fund L P (UEF) has made an investment of Rs 8.35 crore ($2 million) in it. The statement from the company has stated that the company is going to be able to build supply chain and infrastructure for dairy farming and healthcare centers, with this investment. The statement added that the company will also find it easy to continue to create key market linkages between the rural community and upstream players and strengthen its technological platform for gearing the business for volume- driven activities, with the help of this investment.
While commenting on making this investment to MYA, the Principal of UEF, Mr. Johanna Posada said, "Were always looking for smart, innovative and dynamic social entrepreneurs to back. Harsha Moily and his team have the vision and execution to create a comprehensive rural supply chain in order to deliver efficiencies and bridge new economic opportunities for the rural poor. Were excited about our investment into MYA".
Informing that the company is planning to expand its microfinance arm with this investment, one of the sources from the company has stated that the MYA will now concentrate on developing a franchise model around client-operated healthcare centers. The official added that the company will also concentrate on its dairy farming units and rolling it out to rural households. According to the official, the MYA will now explore some partnerships with the healthcare service providers and also with the dairy firms for rolling out operations in these two verticals. The company official further informed that the company is planning to roll out an entire range of verticals across rural India for reaching one million households by the year of 2010 and five million households by the year of 2013, as well.
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| Posted : 3/18/2008 |
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