BioPrime AgriSolutions Pvt. Ltd., an agricultural biotechnology startup, raised Rs 9 crore (about $1.1 million) as part of its pre-Series A investment round, which was coordinated by venture capital firm Inflexor Ventures and included participation from current investor Omnivore.
The Pune-based company intends to use the additional funds for product sale registrations, production capacity growth, and expansion.
Renuka Diwan, Amit Shinde, and Shekhar Bhosle founded the platform BioPrime in 2018, which creates agribiologicals that use tiny biomolecules to modify the fundamental physiological responses in plants, as per reported by VCCircle.
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“Bioprime works to transform the way we grow crops making food more nutritious, and residue-free while restoring soil health using cutting-edge technologies and approaches, always keeping sustainability at our core. At Bioprime we are focusing on discovering fundamental aspects of plant communication, developing novel biologicals based on trait-modifying microbes and physiology-modulating molecules.”, said Renuka, CEO of BioPrime Agrisolutions.
The company has been awarded the prestigious Biotechnology Ignition Grant (BIG) & Seed fund from BIRAC, DBT, Govt of India for developing new sustainable solutions in Agriculture. Bioprime is DIPP recognized Startup and among the 84 starts ups that have received clearance from the Intra Ministerial Committee under the Start-up India program.
“We believe that the stellar founding team of BioPrime is well equipped to solve the complex food security problem brought to the forefront by climate change. The IP-led, high-throughput biomolecule discovery platform will facilitate faster market access. Such a technology platform fits well with Inflexor’s investing thesis of backing impactful, pure science companies from the Indian deep tech ecosystem.”, said Pratip Mazumdar, Partner at Inflexor Ventures.
The company is supported by BIRAC, DBT, Govt of India, and Venture Center. NCL Biotech Business Incubator, RICH, Telangana Govt, Unltd India.
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“BioPrime is our first investment under the OmniX Bio initiative, which backs early-stage agrifood life science startups. We started OmniX Bio with the knowledge that innovations in agrifood life sciences can be the most effective weapon to combat climate change. BioPrime is an excellent example of an invention designed to improve human and planetary health alongside farmer incomes and we are delighted to back them” said Jinesh Shah, Partner at Omnivore Partners.
Bioprime continues its research of discovering newer and more effective leads through its SNIPR-Smart Nanomolecules Induced Physiological Response tech Platform.
BioPrime AgriSolutions Pvt. Ltd is an Agribiotech startup that envisions a world where good yields are an assurance and not a gamble despite the impacts of climate change.
BioPrime was founded by three researchers who believe that cutting-edge technology can truly transform agriculture in India and globally. The company believes in using time-tested molecules and environment-friendly chemistry in keeping with sustainable agriculture at its core.