Hyderabad-based biotech startup ELMED Life Sciences has raised $2.7 million (round Rs 25 crore) in a Sequence A funding spherical led by AgriSURE Fund, managed by NABVENTURES.

The startup mentioned the funds can be used to broaden its manufacturing capabilities in Hyderabad, strengthen analysis and growth (R&D), and scale distribution community throughout Tier 2 and Tier 3 markets in India and constructing a stronger presence in worldwide markets.

Based in 2018 by Pruthivin Reddy Madduri and co-founder Nikhil Konkathi, ELMED Life Sciences develops probiotic and organic options spanning animal well being, agriculture, aquaculture and human well being. Its merchandise cater to poultry, dairy, livestock, aquaculture and soil well being, with a deal with bettering productivity and sustainability via microbiome-based applied sciences.

“We deal with end-to-end formulation and provide to pharma corporations equivalent to Alchem and Hetero for his or her probiotic dietary supplements,” Madduri mentioned. “We’re the producer, whereas the ultimate product is bought and marketed underneath our companions’ model names.”

The startup operates a B2B mannequin, supplying enterprise purchasers together with Aurobindo and Apex Laboratories. It at the moment exports to greater than 18 nations and is concentrating on additional growth throughout Europe, Asia and Latin America.

Talking concerning the funding, Ashish Choudhary, Funding Supervisor, AgriSURE Fund, NABVENTURES, mentioned, “Indian agriculture is steadily shifting in direction of extra sustainable and residue-free practices, creating a robust want for dependable organic options. Via the AgriSURE Fund, we deal with backing companies that may drive this shift at scale. ELMED has demonstrated each scientific power and on-ground adoption throughout key agri segments, and this funding will assist its subsequent part of progress in manufacturing and market growth.”