Agri biotech startup BioPrime Agrisolutions (BioPrime) has raised Rs 9 crore in its pre-Series A round led by Inflexor Ventures. The round also saw participation from its existing investor Omnivore.
The startup will use the funds for their SNIPR Biologicals registrations, advancing the discovery platform, building a strong IP portfolio, increasing production capabilities, and expansion.
Founded by Renuka Karandikar, Amit Shinde and Shekhar Bhosle, BioPrime develops affordable agribiologicals that modulate the basic physiological responses in crops using small biomolecules. These products improve crop resistance to insects/pests and help crops manage abiotic stress such as high temperature, excessive water, and drought, among others.
The Pune-based startup is also developing Bionexus, a microbe discovery platform to develop next-gen microbes with the potential to manipulate plant traits such as drought tolerance, disease resistance, and enhanced yields.
Besides Inflexor and Omnivore, the company is supported by BIRAC, DBT, Govt of India, Venture Center, NCL Biotech Business Incubator, RICH, Telangana Govt, and UnLtd India.
VC firm Inflexor claims to have invested in 10 companies so far since November 2020 from its Fund II. The list includes Atomberg, GramCover and Kale Logistics, and Awiros.
