Parag Milk Foods funding

parag milk foods funding

Sixth Sense Ventures has invested Rs.50 crore in leading private dairy firm, Parag Milk Foods at a price per share of Rs.111. 

Commenting on the investment, Nikhil Vora, the founder of Sixth Sense Ventures, said, “Parag fits perfectly well into our thesis of betting on first-generation founders, pioneering products for the new age consumer, within the $100B+ diary segment. We believe the Indian branded dairy space will get deeper with consumers migrating from the unorganized (75% currently) to the organized space.”

” If a brand can crack shelf space against Amul (GCMMF) at one end, and Nestlé on the other, it makes for an extremely interesting proposition. With a strong product portfolio catering to the “consumer of tomorrow” (packaged paneer, curd, new-age cheese formats, etc), a robust supply chain, and now a well-capitalized balance sheet, we believe Parag is perfectly positioned to become the preferred private dairy player in the country,” he added.

Sixth Sense Ventures is the country’s first domestic consumer-centric venture fund, established by Nikhil Vora (Ex-Managing Director of IDFC Securities), who is considered as one of the greatest analytical minds in the country. 

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