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

EntrackrEntrackr · 1y 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.

Biotech startup Pandorum Technologies raises $18 Mn in Series B round

EntrackrEntrackr · 9h ago
Biotech startup Pandorum Technologies raises $18 Mn in Series B round
Medial

Biotech startup Pandorum Technologies raises $18 Mn in Series B round Biotech startup Pandorum Technologies has raised $18 million in a Series B funding round led by Protons Corporate, with participation from Galentic Pharma, Ashish Kacholia, Noblevast Advisory, Avinya Fund, and the Burman Family, among others. Entrackr had exclusively reported the current development in November last year. The funding round was completed in two tranches, with the first tranche in November and the second in December. According to Entrackr’s analysis, the company will be valued at around Rs 822 crore (around $91 million) post money. The proceeds will be used to advance clinical programs, scale manufacturing, and expand market access across the U.S., Japan, and the Middle East. A portion of the funds will also be deployed towards strengthening regulatory and clinical capabilities. Founded by Tuhin Bhowmick and Arun Chandru, Pandorum operates in the regenerative medicine and biotechnology space, focusing on programmable, exosome-based tissue regenerative therapies. The company has operations in India and the United States. The brand follows a globally distributed manufacturing strategy. It has partnered with AGC Biologics for manufacturing support in the U.S. and Europe, and Nucelion Therapeutics, a subsidiary of Bharat Biotech, for supply across the Asia-Pacific region. The company is also exploring partnerships in the Middle East. According to TheKredible, the company has raised around $43 million to date, including the $11 million secured last year as an extension of its Series A. Pandorum has yet to file its FY25 financials. In FY24, the company was in a pre-revenue stage and reported losses of Rs 28.2 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

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