BioPrime, a biotech startup has raised a $6 million in Series A funding round, led by Edaphon, with equal participation from existing investors Omnivore and Inflexor. This investment marks Belgium-based Edaphon’s first investment in Asia.
This investment will be used in BioPrime’s research in the crop protection segment, focusing on the co-development of novel biofungicides & bioinsecticides.
The company plans to launch its existing range of innovative biostimulants in North America, Brazil & Southeast Asia with trials in the US currently underway.
Furthermore, BioPrime plans to advance & accelerate product development based on BioNexus, the patented technology platform, which has identified over 170 novel microbial strains from its library of close to 18,000 strains.
Dr. Renuka Diwan, Co-founder & CEO, said, “Securing this investment is a testimony to the strength & impact of our technology and the dedication of our team. We will continue to pursue our strategic priorities of accelerating the development of industry solutions in the biologicals space. We look forward to enhancing the offerings to our existing B2B customers & entering into strategic co-development & licensing with industry players.”
“We invested in BioPrime because of its impressive balance between a strong portfolio of commercial products and a high-potential innovation pipeline. The company has already demonstrated success in delivering impactful solutions to the market, while its advanced R&D platform is set to unlock significant future growth. Operating within India’s rapidly growing biostimulant market, BioPrime is deeply connected to the country’s agricultural core, providing crucial solutions to smallholder farmers and addressing sustainability challenges. This combination of proven market performance, forward-looking innovation, and strong market potential makes BioPrime well-positioned to drive both immediate and long-term impact,” said Vincent Vliebergh, Managing Partner of Edaphon.
“The current round of investment further strengthens the growth path being charted by BioPrime leveraging its IP and consumer product portfolio. It also further deepens the conviction on the biologicals space in India,” quoted Pratip Mazumdar, Managing Partner of Inflexor.
“The climate crisis threatens the very future of agrifood systems and rural communities across India. The complex web of challenges threatening food security and rural livelihoods demands innovative approaches with potential for systemic change. Our investment in BioPrime underscores our steadfast commitment to advancing sustainable farming practices,” said Jinesh Shah, Managing Partner of Omnivore.
Founded in 2016 by Dr Renuka Diwan, Dr Amit Shinde, and Dr Shekhar Bhosale, BioPrime is a biological startup that has built climate resilience in crops by using targeted physiology-modulating biomolecules. BioPrime said it has expanded workforce by 10X and tripled its product offerings.
Earlier in October 2022, BioPrime Agrisolutions has raised ₹9 crore in its pre-Series A round led by Inflexor Ventures with participation from Omnivore.
