MilkApp, the milk analysis device and software developed to make the quality of milk and dairy products obtained in Turkiye’s geography sustainable by monitoring end-to-end, went on a share-based crowdfunding tour. Targeting a fund of ₺1.6 million with the supply of 12% of the company shares, the demand of the startup will increase to ₺1 million 920 thousand in exchange for 14.4% of the shares with 20% additional funding. The tour, in which the fonTar agriculture fund decided to invest, will continue until May 5, 2023 on the fonbulucu platform.
MilkApp, a technology startup that produces analysis and reporting-oriented software for dairy farms, farms, farmers, milk collection cooperatives and dairy associations that produce milk and dairy products, went on an investment tour on the crowdfunding platform fonbulucu. MilkApp, which is a software that determines the raw material quality and identity of the products as well as detecting the production leaks that occur during the production of dairy products, provides time and cost efficiency by reducing the measurement time from the market average of 60 seconds to 10 seconds.
At the end of three years, the startup, which sought funds with the aim of being the largest milk analysis service provider and the largest milk data bank in Turkiye, demands a fund of ₺1.6 million with the supply of 12% of the company shares in the investment round. MilkApp, which will increase its demand to ₺1 million 920 thousand in return for its 14.4% share with 20% additional funding, will also be supported by the fundTar agriculture fund in the investment round. The venture company, which started the tour as of 10:00 on Monday, March 6, will give an additional 20% share to investors for investments made with EFT or credit card within the first 15 working days.
Traditional methods are inefficient in measuring milk
MilkApp Co-Founder and Chairman of the Board Ahmet Mert Ulukurt said that according to the data of the National Milk Quality Report published by the National Dairy Council, irregularities were detected in an average of 40% of the milk taken to the factories by collection method in Turkiye. “In 2020, at least 10% of the milk obtained by the collection method was found to have irregularities in adding water, and it was concluded that more than 50% of the milk fat was removed. When calculations are made in a dairy that processes 2 thousand liters of milk a day, it is calculated that the annual financial loss is more than ₺600 thousand. In systems that currently perform milk analysis, the measurement time, which starts with 60 seconds, goes up to 150 seconds, and these long periods not only harm the health of the milk, but also reflect inconsistency in the measurement results of the milk, which is affected by environmental conditions.”
Speeds up measurement time six times
Ahmet Mert Ulukurt, who gave information about MilkApp software, which offers a brand new and advanced design based on mobility as hardware, said, “MilkApp’s measurement module can be integrated into collection tools. In this way, it does not require additional effort. Our software, which records all milk providers one by one and customizes them in the fields of accounting, quality and payment, is a product that creates an identity for all milk suppliers, facilitates dairy production and provides end-to-end traceability. The most important factor that distinguishes our product from its counterparts is the measurement time. MilkApp is capable of measuring in 10 seconds, six times faster than the market average of 60 seconds. With its fast measurement time, it enables to recognize milk without delay, determines its quality, contributes to industrial planning, and creates a sustainable tracking system by keeping the data in the cloud for years.”
Mohammad Memory, Director of Venture Relations at the fonbulucu, said, “MilkApp, which foresees a net profit of over ₺50 million by reaching more than 20% of the Turkish market in the next five years, will work for high technology production throughout the process. Our startup, which plans to increase the company valuation by at least 50% at the end of the third year, aims to open up to the foreign market in the fourth and fifth years and to become known in the global market. As fonbulucu, “We believe that MilkApp has this potential, and we invite our individual and institutional investors to support this local startup.”
Source: Egirisim / Prepared by Irem Yildiz