BacAlt Biosciences, a biotech startup, has raised ₹18 crore ($2 million) in its pre-seed funding round led by Avaana Capital, a venture capital fund focused on backing deep-tech innovation. The round also saw participation from Lubrizol InnoVentures, the co-innovation ventures platform of global speciality chemicals leader Lubrizol.
The funds raised will be used to scale their R&D processes, build pilot production facilities, strengthen hiring and develop go-to-market strategies for geographic expansion.
Founded in 2023 by Shruti Kutmutia and Pranav Nair, BacAlt Biosciences is creating reliable, high-performance alternatives to petrochemical-based ingredients.
BacAlt develops bio-based polymers and specialty ingredients using lean, energy-efficient, and high-throughput fermentation that improves product performance in diverse applications while preventing microplastic pollution. The Bengaluru-based startup leverages waste valorisation, circular feedstocks, and non-sterile fermentation.
Shruti Kutmutia, Co-Founder of BacAlt, said, “BacAlt’s vision is to power India’s emergence as a global hub for circular, bio-based speciality ingredients. 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.”
Shruti Srivastava, Investment Director at Avaana Capital, said, “By combining proprietary fermentation platforms with circular use of agricultural waste, BacAlt is delivering ingredients that finally meet the performance and cost thresholds required for scale in FMCG. These breakthroughs position the company at the forefront of sustainable materials for mainstream markets.”
John Patrin, Managing Director of Lubrizol InnoVentures, said, “We are excited to collaborate with BacAlt Biosciences. This underscores our commitment to innovation and advancing solutions in biotechnology. With Lubrizol’s deep expertise and global network with BacAlt’s pioneering bio-based polymers and speciality ingredients, we aim to accelerate the development of new products that deliver enhanced value to customers and positively impact global markets.”
