Agri biotech startup BioPrime Agrisolutions (BioPrime) raised USD 6 million in its Series A round led by Edaphon, with equal participation from existing investors Omnivore and Inflexor. This investment is Belgium-based Edaphon’s first investment in Asia.
The fresh proceeds will be used to fuel BioPrime’s research in the crop protection segment, focusing on the co-development of novel bio fungicides and bioinsecticides.
The Pune-based startup had raised Rs 9 crore in its pre-Series A round led by Inflexor Ventures and Omnivore, earlier in October 2022.
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.
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 firm plans to launch its existing range of innovative biostimulants in North America, Brazil and Southeast Asia with trials in the US currently underway.
Additionally, BioPrime aims to enhance and expedite product development using its patented BioNexus technology platform, which has identified over 170 novel microbial strains from a library of nearly 18,000 strains.
