India-based agri-bio tech startup, BioPrime Agrisolutions (BioPrime) has raised Rs 9 crore in pre-series A round funding led by Inflexor Ventures in participation with its existing investors including Omnivore Ventures.
Inflexor has invested in 10 companies so far since November 2020, from its Fund II, companies including Atomberg, GramCover, and Kale Logistics.
“The startup plans to utilize the funds for their SNIPR Biologicals registrations, advancing the discovery platform, building a strong IP portfolio, increasing production capabilities, and for business expansion,” the statement said.
Founded by Dr. Renuka Karandikar, Dr. Amit Shinde, and Dr. Shekhar Bhosle, BioPrime develops affordable agribiologicals that modulate the basic physiological responses in crops using small biomolecules.
Speaking on the funding round, Renuka, CEO of BioPrime Agrisolutions said, “Bioprime works to transform the way we grow crops making food more nutritious, and residue-free while restoring soil health using cutting-edge technologies and approaches, always keeping sustainability at our core. At Bioprime we are focusing on discovering fundamental aspects of plant communication, developing novel biologicals based on trait-modifying microbes and physiology-modulating molecules.”
Commenting on the investment in the agri-bio startup, Pratip Mazumdar, Partner at Inflexor Ventures said, “We believe that the stellar founding team of BioPrime is well equipped to solve the complex food security problem brought to the forefront by climate change. The IP-led, high-throughput biomolecule discovery platform will facilitate faster market access. Such a technology platform fits well with Inflexor’s investing thesis of backing impactful, pure science companies from the Indian deep tech ecosystem.”
“BioPrime is our first investment under the OmniX Bio initiative, which backs early-stage agrifood life science startups. We started OmniX Bio with the knowledge that innovations in agrifood life sciences can be the most effective weapon to combat climate change. BioPrime is an excellent example of an invention designed to improve human and planetary health alongside farmer incomes and we are delighted to back them” Jinesh Shah, Partner at Omnivore Partners further added.