Avaana Capital led a pre-seed funding round for biotech startup BacAlt Biosciences, which raised $2 million (roughly Rs 18 crore) with Lubrizol InnoVentures as a participant. At the moment, the business is worth $8 million.
Key Highlights
- BacAlt Biosciences raised $2 million pre-seed led by Avaana Capital and Lubrizol InnoVentures.
- Funds will support R&D scaling, pilot production, hiring, go-to-market expansion, and reducing dependence on imports.
According to a press release from BacAlt Biosciences, the money will be utilized to expand its R&D procedures, construct pilot production facilities, improve hiring, and create go-to-market plans for new markets.
BacAlt, which was co-founded in 2023 by Shruti Kutmutia and Pranav Nair, uses lean, energy-efficient, high-throughput fermentation to create bio-based polymers and specialty ingredients that enhance product performance in a variety of applications while reducing microplastic pollution. The Bengaluru-based startup makes use of non-sterile fermentation, circular feedstocks, and waste valorization.
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"The goal of BacAlt is to propel India's rise as a global center for circular, bio-based specialty ingredients," stated Shruti Kutmutia, the company's co-founder. "There is a genuine need for cost-effective, high-performance ingredients, and we are scaling up to transform India from an import-reliant market into a hub for biomanufacturing that is ready for export."
Combining advancements in industrial biomanufacturing, scalable fermentation, and microbiology, BacAlt Biosciences seeks to develop dependable, high-performing substitutes for petrochemical-based ingredients that will influence formulations globally in the future.
