Monday, November 28, 2022
HomeInsightFunding Alert KSUM-backed biotech startup Zaara raises funding

[Funding alert] KSUM-backed biotech startup Zaara raises funding

Zaara Biotech

Biotechnology startup Zaara Biotech has raised undisclosed amount in funding from US-based Transcend International.

The startup will use this amount to set up a manufacturing facility for food and beverages under the brand name ‘B-Lite’, an algae seaweed enrichment facility, and a research center for photobioreactors in the US.

Zaara was founded in 2016 by Najeeb Bin Haneef on the campus of Sahrdaya College of Engineering and Technology, Kodakara in Thrissur, It has been promoted under the flagship Innovation and Entrepreneurship Development Center (IEDC) scheme of Kerala Startup Mission (KSUM).

It is currently working to set up a manufacturing facility for FMCG product in UAE.

Najeeb bin Haneef, founder and CEO of Zaara Biotech, said that the entire operations in production and R&D will be done by his company, while other operations will be handled by the team Transcend under the incorporated name – Zaara Biotech International.

Najeeb also said that all activities of Zara Biotech USA will be restricted to US only, as globally Zaara Biotech India acts as a parenting company.

He added that the startup connects various partners in different locations to expand the business with algae seaweed products in the existing FMCG market.

The biotech company has also manufactured India’s first Algae Seaweed Cookies including High Protein Algal Spirulina Cookies.

John M Thomas, CEO, KSUM, said that the growth of Zaara Biotech is a testament to the vibrancy of IEDC in nurturing entrepreneurial skills among students.

“IEDCs help aspiring entrepreneurs get ample exposure and technology skills, besides promoting an environment to set up ventures by developing innovative products of social relevance. Zaara’s achievement will certainly be an inspiration for the fledgling startups at IEDCs’’, he added.

In addition to the GITEX 2019 performance held at the World Trade Centre, Dubai, Zaara proceeded through KSUM’s IEDC event.

KSUM has a network of around 320 mini-incubators, called IEDCs, across campuses to promote technological entrepreneurship among students.

IEDC was launched in 2014 and aims to promote a culture of innovation and entrepreneurship in educational institutions and to develop institutional mechanisms to promote techno-entrepreneurs.

About Zaara Biotech

Zaara Biotech was started in the college dorm of Sahrdaya College of Engineering and Technology by a group of students in 2016 with a dream of improving the quality of life for people around the world. The aim of the company was to develop innovative techniques to combat malnutrition and enrich living standards. Today, Zaara Biotech is a champion of high-quality nutritious food with its wide assortment of products delivered across different parts of the world. The company also designs and manufactures sustainable environmental solutions based on advanced technology with sustainability and quality as the guiding parameters.

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