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Biotech startup Ahammune Biosciences raises $5 Mn led by pi Ventures

EntrackrEntrackr · 9m ago
Biotech startup Ahammune Biosciences raises $5 Mn led by pi Ventures
Medial

Biotech startup Ahammune Biosciences has raised $5 million in Series A funding round led by pi Ventures. The round also witnessed participation from Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP and IAN. The Pune-based company had previously raised around $3 million from its existing investors and others. The fresh fund will be used to conduct Phase II human clinical trials for drug candidates for vitiligo, expand the patent portfolio, and advance Ahammune’s R&D efforts for other immune-mediated skin diseases, Ahammune Biosciences said in a press release. Co-founded in 2016 by Parul Ganju and Krishnamurthy Natarajan, Ahammune Biosciences is a clinical-stage therapeutics company which aims to create innovative solutions to treat and cure skin diseases. With a focus on chronic skin conditions, it leverages its proprietary small molecule therapeutics platform to target and enhance skin health. The company intends to deliver cost-effective innovative treatments that address unmet needs in dermatology, advancing the future of skin disease therapies. According to Ahammune, its initial program is focused on developing a new drug candidate for vitiligo. It claims that its small molecule drug candidate does not cause generalized immunosuppression and has a first-in-class mechanism of action, with an ability to not only stop patch spread, but also stimulate the function of color producing cells in skin, thereby inducing repigmentation. In addition to vitiligo, Ahammune is developing a pipeline of patented molecules to treat other dermatological and autoimmune diseases. It aspires to expand its patent portfolio around its proprietary technology – the small molecule therapeutics platform, with a focus on treating skin conditions by targeting key cellular processes that influence skin health and immunity. The company is also seeking partnerships with pharmaceutical companies to co-develop the assets to maximize reach and commercial potential.

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CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 5m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.

BioPrime raises $6 Mn in Series A round led by Edaphon

EntrackrEntrackr · 9m ago
BioPrime raises $6 Mn in Series A round led by Edaphon
Medial

Agri biotech startup BioPrime Agrisolutions (BioPrime) has raised $6 million in its Series A round led by Edaphon, with equal participation from existing investors Omnivore and Inflexor. This investment marks Belgium-based Edaphon’s first investment in Asia. Earlier in October 2022, the Pune-based startup had raised Rs 9 crore in its pre-Series A round led by Inflexor Ventures and Omnivore. Besides Inflexor and Omnivore, the company is supported by BIRAC, DBT, Govt of India, Venture Center, NCL Biotech Business Incubator, RICH, Telangana Govt, and UnLtd India. The fresh proceeds will be used to fuel BioPrime’s research in the crop protection segment, focusing on the co-development of novel bio fungicides and bioinsecticides. Founded by Renuka Karandikar, Amit Shinde, and Shekhar Bhosle, BioPrime develops affordable agribiologicals that modulate the basic physiological responses in crops using small biomolecules. These products improve crop resistance to insects/pests and help crops manage abiotic stress such as high temperature, excessive water, and drought, among others. The firm plans to launch its existing range of innovative biostimulants in North America, Brazil and Southeast Asia with trials in the US currently underway. Furthermore, BioPrime plans to advance and accelerate product development based on BioNexus, the patented technology platform, which claims to have identified over 170 novel microbial strains from its library of close to 18,000 strains.

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