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Argus, Khaitan, Trilegal on Milk Mantra’s 66.5 crore fund raise from Neev Fund & ors.

Bar & Bench

Milk Mantra Dairy, a dairy manufacturing company based out of Odisha, has raised around Rs. 66.5 crore in a series D round of funding from Neev Fund, Eight Roads Ventures and Aavishkaar.

Argus Partners acted for Milk Mantra through a team led by Managing Partner Krishnava Dutt, along with Partner Arka Majumdar and Associate Shradha Rakhecha.

Khaitan & Co acted for Neev Fund, while Trilegal represented Eight Roads Ventures and Aavishkaar.

In 2014, Milk Mantra had raised around Rs. 80 crore from Fidelity Growth Partners and Aavishkaar. That same year, it had acquired Westernland Dairy, another dairy manufacturer in the state.

According to ET, the amount raised by Milk Mantra is also part of a larger funding round that is expected to close over the course of the year.