ELMED Life Sciences Nets $2.7 Mn To Scale Microbiome-Based Solutions
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Probiotics manufacturer ELMED Life Sciences has secured $2.7 Mn (₹25.4 Cr) in a Series A funding round from NABVENTURES-managed AgriSURE Fund (Agri Fund for Startups & Rural Enterprises).
The startup will deploy the fresh capital to expand its production capacity and strengthen microbiome-focused R&D.
For context, microbiome-based solutions are methods to regulate bacteria, fungi and viruses in a host organism. The solutions are tailored to restore ecological balance and strengthen resilience in all kinds of life.
Besides, ELMED intends to use a portion of the capital to scale its distribution across Tier II and Tier III Indian markets while also penetrating deeper in key global markets. ELMED claims that it exports to more than 18 countries today, and is planning to expand its footprint across Europe, Asia and South American (LATAM) countries.
Founded in 2018 by VIT alumni Pruthivin Reddy Madduri and Nikhil Konkathi, ELMED is a probiotic manufacturer offering contract manufacturing, R&D services to global healthcare and agri-biotech companies. It counts Xanum, Hetero Healthcare, Wallace Pharmaceuticals and Donovan as its top clients.
Based in Hyderabad, the startup claims that its facility is equipped to deliver quality probiotics in multiple dosage forms such as oral suspensions, emulsions, drops, capsules, sachets and syrups in all therapeutic areas for humans, aquatic life, animals and plants.
The funding comes at a time when Indian startups operating in the agritech and healthtech segments are doubling down on research in microbiome-based solutions on the back of growing awareness in natural alternative solutions in the market today.
Amid this shift, investor interest in the segment is also picking up. Last May, gut health startup The Good Bug raised ₹100 Cr to scale its research in gut microbiome science and expand across India. Prior to that, agri-biotech startup GreenGrahi, which offers an insect biotech platform that is powered by BSF and microbiome, secured ₹32 Cr to build India’s largest Black Soldier Fly (BSF) bio-factory.
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