BioPrime Agrisolutions (BioPrime), an agribiotech startup, has raised $6 million in its Series A round led by Edaphon, with participation from Omnivore and Inflexor, two current investors, on par. This is Edaphon, a Belgian company, making its first investment in Asia.
The Pune-based startup, led by Inflexor Ventures and Omnivore, had raised Rs 9 crore in its pre-Series A round earlier in October 2022.
The company is supported by BIRAC, DBT, the Government of India, Venture Center, NCL Biotech Business Incubator, RICH, the Government of Telangana, and UnLtd India in addition to Inflexor and Omnivore.
The newly generated funds will support BioPrime’s agricultural protection research, with an emphasis on the cooperative development of innovative biofungicides and bioinsecticides.
Using tiny biomolecules to alter the fundamental physiological reactions in crops, BioPrime, founded by Renuka Karandikar, Amit Shinde, and Shekhar Bhosle, creates inexpensive agribiologicals. These products increase crop resistance to pests and insects and assist crops in coping with abiotic stressors like drought, high temperatures, and excessive watering.
The company, which is currently conducting trials in the US, intends to introduce its current line of cutting-edge biostimulants in North America, Southeast Asia, and Brazil.
BioNexus is a patented technology platform that BioPrime claims has identified over 170 novel microbial strains from its library of nearly 18,000 strains. Based on this technology, BioPrime intends to advance and accelerate product development.
