Hyderabad-based Elmed Life Sciences has raised $2.7 million from Agrisure Fund, which is managed by Nabard-backed Nabventures.
The company develops and manufactures probiotic and biological solutions for animal health, aquaculture, agriculture, and human health. The fresh capital will be used to expand its production capabilities, strengthen its microbiome-based research and development, and expand distribution across key markets, founder Pruthivin Reddy Madduri told ET.
The company partners with multiple firms in the human health segment, while its animal health and agriculture verticals are in the development stage.
“We handle end-to-end formulation and supply to pharma companies such as Alchem and Hetero for their probiotic supplements,” said Madduri. “We are the manufacturer, while the final product is sold and marketed under our partners’ brand names.”
Founded in 2018 by Madduri and cofounder Nikhil Konkathi, the company’s farm products focus on improving productivity, immunity, and sustainability.
The funding comes in the backdrop of the BIRAC-RDI fund (Biotechnology Industry Research Assistance Council–Research, Development and Innovation Fund) launched this February, which has allocated Rs 2,000 crore under the government’s Rs 1 lakh crore RDI scheme.
Elmed Life Sciences is a business-to-business (B2B) firm, serving multinational clients such as Aurobindo and Apex Laboratories, among others.
“Indian agriculture is steadily moving towards more sustainable and residue-free practices, creating a strong need for reliable biological solutions. Through the AgriSURE Fund, we focus on backing businesses that can drive this shift at scale,” said Ashish Choudhary, investment manager, Agrisure Fund, Nabventures.
The company exports to more than 18 countries and plans to expand its presence across Europe, Asia, and Latin America, driven by rising demand for sustainable, antibiotic-free solutions, the company said in a statement.
The company develops and manufactures probiotic and biological solutions for animal health, aquaculture, agriculture, and human health. The fresh capital will be used to expand its production capabilities, strengthen its microbiome-based research and development, and expand distribution across key markets, founder Pruthivin Reddy Madduri told ET.
The company partners with multiple firms in the human health segment, while its animal health and agriculture verticals are in the development stage.
“We handle end-to-end formulation and supply to pharma companies such as Alchem and Hetero for their probiotic supplements,” said Madduri. “We are the manufacturer, while the final product is sold and marketed under our partners’ brand names.”
Founded in 2018 by Madduri and cofounder Nikhil Konkathi, the company’s farm products focus on improving productivity, immunity, and sustainability.
The funding comes in the backdrop of the BIRAC-RDI fund (Biotechnology Industry Research Assistance Council–Research, Development and Innovation Fund) launched this February, which has allocated Rs 2,000 crore under the government’s Rs 1 lakh crore RDI scheme.
Elmed Life Sciences is a business-to-business (B2B) firm, serving multinational clients such as Aurobindo and Apex Laboratories, among others.
“Indian agriculture is steadily moving towards more sustainable and residue-free practices, creating a strong need for reliable biological solutions. Through the AgriSURE Fund, we focus on backing businesses that can drive this shift at scale,” said Ashish Choudhary, investment manager, Agrisure Fund, Nabventures.
The company exports to more than 18 countries and plans to expand its presence across Europe, Asia, and Latin America, driven by rising demand for sustainable, antibiotic-free solutions, the company said in a statement.
