MYA gets VC funding for rural network

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.