Agriculture-biotech start-up BioPrime Agrisolutions raised Rs 9 crore in pre-series A funding. The funding was led by Inflexor Ventures, a tech-focused venture company. Omnivore, Bioprime’s existing investor was also present in the fund-raising round, Business Insider reported.
In 2016, Renuka Karandikar, Amit Shinde, and Shekhar Bhosle founded the startup BioPrime Agrisolutions. It aims to develop affordable agri-biologicals that can improve the resistance power of crops to prevent insects/pests. Moreover, it helps to manage multiple abiotic stresses such as high temperature, excessive water, drought, etc.
The start-up makes products that are residue-free and non-chemical based. As per the official claims, BioPrime seeks to provide organic and less expensive fertilisers and pesticides to farmers to help them.
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“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,” Renuka Karandikar told Business Insider.
Why Was The Funding Needed?
As per the firm's claims, BioPrime intends to utilize the funds for SNIPR Biologicals registrations, advancing the discovery platform. The company wants to build a strong intellectual property portfolio and increase production capabilities.
The Pune-based agri firm BioPrime has Inflexor Ventures as one of its leading investors.
“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,” Pratip Mazumder, partner at Inflexor Venture told Business Insider.
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