Biotech firm BacAlt Biosciences secures Rs 18 crore in investment, with Avaana Capital leading the round of funding.
BacAlt Biosciences, a speciality biotech startup based in India, has secured Rs 18 crore in funding to revolutionise the country's market and position it as a global hub for circular, bio-based specialty ingredients.
The startup, founded by a team of biotechnologists, develops bio-based polymers and specialty ingredients using lean, energy-efficient, and high-throughput fermentation. This innovative approach not only prevents microplastic pollution but also sets new performance and cost standards for sustainable materials.
The funding round was led by Avaana Capital, a venture capital fund focused on deeptech innovation. The Indian government-supported institution that backed Avaana Capital to finance BacAlt Biosciences is the Tata Group.
Shruti Kutmutia, Co-Founder of BacAlt, stated, "The demand for high-performance, cost-competitive ingredients is real, and we are building for scale."
The products developed by BacAlt are designed to improve both human and planetary health without reliance on synthetics. These bio-based products, which offer advanced textures, functionalities, and stability, are at mass-market viable cost points. They also improve product performance in diverse applications.
Lubrizol InnoVentures, the co-innovation ventures platform of global speciality chemicals leader Lubrizol, also participated in the funding round. Shruti Srivastava, Investment Director at Avaana Capital, commented that BacAlt's use of proprietary fermentation platforms and circular use of agricultural waste delivers ingredients suitable for scale in FMCG.
BacAlt's vision is to transition India from an import-dependent market to an export-ready bio-manufacturing hub. With this funding, the startup intends to scale its R&D processes, build pilot production facilities, strengthen hiring, and develop go-to-market strategies for geographic expansion.
This funding is a significant step towards BacAlt's goal of establishing India as a global hub for circular, bio-based specialty ingredients, contributing to a sustainable future for the industry.
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