Agri-bio startup BioPrime Agrisolutions raises ₹9 crore in funding round led by Inflexor Ventures

• The current round of funding also saw participation from existing investor Omnivore.
  
• Bioprime develops affordable agri-biologicals that improve crop resistance to insects/pests.
  
• It aims to utilise the funds for its SNIPR Biologicals registrations, advancing the discovery platform, building a strong IP portfolio and increasing production capabilities.
  

Tech-focused venture capital (VC) fund Inflexor Ventures led a pre-series A funding of ₹9-crore in agriculture biotech startup BioPrime Agrisolutions.

The funding round also saw participation from BioPrime’s existing investor, Omnivore.

BioPrime aims to utilise the funds for SNIPR Biologicals registrations, advancing the discovery platform, building a strong IP portfolio and increasing production capabilities.

BioPrime – founded by Renuka Karandikar, Amit Shinde and Shekhar Bhosle in 2016 – develops affordable agri-biologicals that improve crop resistance to insects/pests and help crops manage abiotic stress such as high temperature, excessive water, drought, etc.

These products are non-chemical based, residue-free, organic, and are less expensive than chemical-based fertilisers and pesticides – thereby reducing the overall farm input expenses, claims Pune-based BioPrime.

“BioPrime works to transform the way we grow crops, making food more nutritious and residue-free while restoring soil health using cutting-edge technologies and approaches, always keeping sustainability at our core,” Karandikar, CEO of BioPrime Agrisolutions, said.

The company was focusing on discovering fundamental aspects of plant communication, developing novel biologicals based on trait-modifying microbes and physiology-modulating molecules, she added.

“We believe that the stellar founding team of BioPrime is well equipped to solve the complex food security problem brought to the forefront by climate change. The IP-led, high-throughput biomolecule discovery platform will facilitate faster market access. Such a technology platform fits well with Inflexor’s investing thesis of backing impactful, pure science companies from the Indian deep tech ecosystem,” said Pratip Mazumdar, Partner at Inflexor Ventures.

Inflexor has invested in 10 companies so far since November 2020 including Atomberg, GramCover and Kale Logistics.

“BioPrime is an excellent example of an invention designed to improve human and planetary health alongside farmer incomes and we are delighted to back them," Jinesh Shah, Partner at Omnivore Partners said.

SEE ALSO: Mumbai International Airport switches to Green sources
From wrestler to veteran politician – Life and times of ‘Netaji’ Mulayam Singh Yadav
World Mental Health Day: Here’s how you can cope with burnout at work