Agritech co Loopworm raises $3.4 M from Omnivore, WaterBridge, others

Loopworm, a Bengaluru-based agritech startup, has raised USD 3.4 million in seed funding led by Omnivore Partners and WaterBridge Ventures. The round also witnessed participation from Titan Capital and angel investors Nadir Godrej of Godrej Agrovet, Sanjiv Rangrass (former head of ITC), and Akshay Singhal of Log9 Materials. Founded in 2019 by Ankit Alok Bagaria and Abhi Gawri, Loopworm aims to optimise insect farming for smallholders while producing nutrients and ingredients for business-to-business (B2B) customers. The startup aims to impact multiple sectors including aquaculture, pet food, and nutraceuticals using multi-species insect biotechnology. Loopworm plans to use the fresh capital for talent acquisition, research and development (R&D) including building laboratories, and to launch its first factory in North Bengaluru for scaling up production.