Loopworm raises $3.25 Mn in pre-Series A round

Biomanufacturing startup Loopworm has raised $3.25 million in a pre-Series A funding round co-led by existing backer WaterBridge Ventures and Japanese VC firm Enrission India Capital.

The startup will use the new funds to start producing recombinant proteins and to build a commercial facility dedicated to their production.

With this latest funding round, Loopworm’s total funding now stands at $6.65 million. It previously raised $3.4 million in a 2022 seed round from Omnivore Ventures, WaterBridge Ventures, Titan Capital, Climate9ers Capital, and other angel investors.

“Our reactor-free approach using silkworms changes the economics entirely. Having proven the technology, we are now focusing on commercialising our recombinant protein production platform, initially targeting diagnostics, animal vaccines and other applications with lower regulatory barriers,” said Loopworm cofounder and CEO Bagaria.

About Loopworm 

Co-founded in 2019 by Ankit Alok Bagaria and Abhi Gawri, Loopworm produces high-protein animal feed and edible oils using silkworms. Its products serve industries like cosmetics, human wellness, and plant nutrition.

The biotech startup exports its proteins and oils to Europe, South America, and ASEAN countries. It also runs an insect processing facility in Bengaluru with a 6,000-tonne annual capacity. But the company has more in store.

The biomanufacturing startup is building a unique, reactor-free platform to produce recombinant proteins using silkworms. These proteins, made through genetic engineering, are widely used in diagnostics, therapeutics, and biomaterials.

Loopworm says it has spent the last three years developing its proprietary technology for recombinant protein production. The startup has already filed two patents and plans to file six more over the next three years.

It has completed the base technology, allowing it to produce recombinant proteins with “good yields and decent quality.”