GOWALA Raises Pre-series A Funding From UFS, Eyes Further Expansion
After raising pre-seed investment in September last year, consumer dairytech company Gowala Holdings Limited (parent company of the popular dairy brand GOWALA) has announced today that they have negotiated an investment deal with Universal Financial Solutions Limited (UFS), a local asset management company. Investment and financial consulting brand bluKonsult GLOBAL was the advisor to the deal. This investment comes on the back of a fourfold increase in the company’s sales level (in terms of both taka volume and number of orders) after the pre-seed investment in 2018.
Under the deal, UFS will purchase equity stakes at Gowala Holdings Limited and take a seat on the board with immediate effect. “We were looking for an institutional partner that can drive our growth going forward,” said Md. Shafiul Alam, Co-founder and Managing Director of Gowala Holdings.
Hamza Alamgir, Managing Director of UFS quipped, “We are quite excited to be a part of this growing brand at an early stage, and feel that the potential for the dairy industry, in general, is huge.”
With its operating history of well over two years, GOWALA is a popular dairy brand that sells curd, milk, and local sweetmeat delicacies, etc. mainly through online platforms. However, to match the heightened demand for its products, the company has expanded its offline footprint during the first half of 2019 calendar year. The company is also developing proprietary innovative technology to optimize every step of its value chain to ensure the highest quality products for its customers.
GOWALA’s founding leadership team also includes seasoned logistics professional COO Rubayat Hossain and founders of leading digital communications company GEEKY Social, Md Saimum Hossain and Mahadi Hasan Sagor. Previously, GOWALA received pre-seed investment from local angel investors.
GOWALA now employs a total of 28 people to bring contamination-free milk and some of the best local sweetmeat delicacies of Bangladesh to the tables of the urban consumers.
Cover photo credit: Directors and officials from Gowala Holdings, Universal Financial Solutions, and bluKonsult GLOBAL at the signing ceremony