BioPrime Raises USD 6 Million to Expand Business

New Delhi, Oct 8 (PTI) Startup BioPrime on Tuesday said that it has raised USD 6 million from investors to expand its business.

BioPrime raised USD 6 million in Series A round, led by Edaphon, with equal participation from existing investors Omnivore and Inflexor, the company said in a statement.

BioPrime was founded in 2016 by Dr Renuka Diwan, Dr Amit Shinde and Dr Shekhar Bhosale. The founders have experience in plant and microbe biotechnology.

The company is a biologicals startup that builds climate resilience in crops by using targeted physiology-modulating biomolecules.

This investment will fuel 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 and 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.

Renuka Diwan, Co-founder & CEO, said, "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.