Biotech company BacAlt Biosciences secures funding of Rs 18 crore, with Avaana Capital leading the round.
BacAlt Biosciences, a specialty biotech startup based in India, has secured Rs 18 crore in funding. The funding round was led by Avaana Capital, a venture capital fund focused on deeptech innovation, with participation from Lubrizol InnoVentures, the co-innovation ventures platform of global specialty chemicals leader Lubrizol.
Founded in 2023 by Kutmutia and Pranav Nair, BacAlt Biosciences develops bio-based polymers and specialty ingredients. The startup's production process improves product performance in diverse applications and prevents microplastic pollution. This eco-friendly approach sets new performance and cost standards for sustainable materials.
Shruti Kutmutia, Co-Founder of BacAlt, stated that BacAlt's vision is to make India a global hub for circular, bio-based specialty ingredients. She added that the company's proprietary fermentation platforms combined with the circular use of agricultural waste deliver ingredients meeting the performance and cost thresholds for scale in FMCG.
The funds raised will be used for scaling R&D processes, building pilot production facilities, strengthening hiring, and developing go-to-market strategies for geographic expansion. The startup aims to position itself at the forefront of sustainable materials for mainstream markets.
BacAlt's low-carbon production process is applicable in sectors like home care, personal care, agrochemicals, nutraceuticals, and pharmaceuticals. This versatility makes BacAlt's products attractive to a wide range of industries seeking sustainable solutions.
Shruti Srivastava, Investment Director at Avaana Capital, mentioned that BacAlt's approach aligns with their mission to support deeptech innovations that have the potential to create a positive impact. She expressed her confidence in BacAlt's ability to disrupt traditional materials with its bio-based solutions.
With this funding, BacAlt Biosciences is poised to make a significant contribution to India's growing biotech sector and the global push for sustainable materials. The startup's commitment to innovation, sustainability, and performance makes it a promising player in the field.
