Biotech company BacAlt Biosciences secures Rs 18 crore in investment, spearheaded by Avaana Capital.
In a significant development for the Indian biotech industry, speciality biotech startup BacAlt Biosciences has secured Rs 18 crore in funding, positioning the company at the forefront of sustainable materials for mainstream markets.
The funding round was led by Avaana Capital, a venture capital fund focused on deeptech innovation. Co-innovation ventures platform Lubrizol InnoVentures also participated in the round.
BacAlt's production process sets new performance and cost standards for sustainable materials. The startup develops bio-based polymers and specialty ingredients, providing advanced textures, functionalities, and stability to formulators in various sectors without relying on synthetics.
Shruti Srivastava, Investment Director at Avaana Capital, highlighted BacAlt's potential, stating, "BacAlt's use of proprietary fermentation platforms and circular use of agricultural waste delivers ingredients meeting the performance and cost thresholds required for scale in FMCG."
Shruti Kutmutia, Co-Founder of BacAlt, expressed the company's vision, "Our vision is to make India a global hub for circular, bio-based specialty ingredients." The startup's strategies aim to take India from an import-dependent market to an export-ready bio-manufacturing hub.
The demand for high-performance, cost-competitive ingredients is a real focus for BacAlt's operations. The startup's production process improves product performance in diverse applications while preventing microplastic pollution, a significant advantage in today's environmentally conscious world.
With the raised funds, BacAlt plans to scale its R&D processes, build pilot production facilities, strengthen hiring, and develop go-to-market strategies for geographic expansion. The company's commitment to sustainability and innovation is expected to drive its growth in the coming years.
As BacAlt continues to set new performance and cost standards for sustainable materials, it is poised to play a crucial role in shaping the future of the Indian biotech industry and contributing to a more sustainable world.
