MokshaYug Access (MYA) has received funding of Rs 8.35 crore ($2 million) from a private equity fund Unitus Equity Fund L P (UEF).
The investment will enable MYA to build supply chain and infrastructure for dairy farming and healthcare centers, continue to create key market linkages between the rural community and upstream players, strengthen its technological platform to gear the business for volume- driven activities and expand its microfinance arm.
MYA will concentrate on developing a franchise model around client-operated healthcare centers and dairy farming units and rolling it out to rural households. MYA will explore partnerships with healthcare service providers and dairy firms to roll out operations in these two verticals. Once a robust business model in dairy and healthcare is in place, MYA plans to roll out an entire range of verticals across rural India to reach one million households by 2010 and five million households by 2013, the company said.
“We’re 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. We’re excited about our investment into MYA,” said Johanna Posada, principal, UEF.
Source: Business Standard