Gowala Holdings Limited, a consumer dairy-tech company (parent company of the popular dairy brand Gowala), announced that they have negotiated an investment deal with Universal Financial Solutions Limited (UFS), a local asset management company.

“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 Ltd.

“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,” Hamza Alamgir, managing director of UFS, said.

Under the deal signed on August 31, 2019, UFS will purchase an equity stake in Gowala Holdings Ltd and take a seat on the board with immediate effect.

This investment comes on the back of a fourfold increase in the company’s monthly sales since December 2018.

Earlier, in September last year, Gowala raised its pre-seed investment.