Animall, a startup that connects cattle buyers and sellers, has raised Rs 102.62 crore or close to $14 million in its Series B funding round from new and existing investors. With this, the Bengaluru-based company has raised three rounds – seed, Series A and Series B – in a span of 15 months.
Animall’s board has passed a special resolution to allot 50,345 Series B preference shares and 20 equity shares at an issue price of Rs 20,375.71 per share to raise Rs 102.62 crore or $13.85 million, regulatory filings show.
Nexus Venture Partners and SAI Global India Fund have led the round by investing Rs 46.74 crore ($6 million) and Rs 26.3 crore ($3.5 million) respectively. The round also saw participation from WEH Ventures, Omnivore, Beenext, Rocketship and individual investors such as Deepinder Goyal, Sahil Barua, Vidit Attrey, Sanjeev Kumar and Mohit Kumar.
While the participation of Sequoia Capital in Animall’s new round was not mentioned in the filings, Entrackr’s sources said that the existing backer of the startup has also participated.
According to Fintrackr’s estimates, Animall has reached the post-money valuation of Rs 565 crore or a little over $75 million. This is a more than 2.6X jump in the company’s valuation as it raised its last funding led by Sequoia Capital at a post-money valuation of Rs 205 crore in March 2021. Entrackr had exclusively reported the development in March.
Post allotment of Series B round, promoters Neetu Yadav and Libin Babu’s collective stake will be diluted from 44.53% to 37.65%.
Currently operating across major parts of the country including Haryana, Uttar Pradesh and Rajasthan, Animall claims to be the largest trading platform for cattle. It also enables dairy farmers to connect and engage with experts and doctors through its community.
Animall operates through a Hindi language website and an Android app called Pashu Mela. According to Sensor Tower data, the app has crossed 8 million downloads since its launch in November 2019.
Founded by Yadav, Babu, Anurag Bisoyi, Sandeep Mahapatra and Kirti Jangra, the company directly competes with the likes of Pashu Mall, Pashu Mela, Pashushala and Pahu Vyapar.