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.
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.
“BacAlt’s vision is to power India’s emergence as a global hub for circular, bio-based speciality ingredients,” said Shruti Kutmutia, Co-Founder of BacAlt. “The demand for high-performance, cost-competitive ingredients is real, and we are building for scale, taking India from an import-dependent market to an export-ready bio-manufacturing hub.”
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.
