PE-VC Fund Investments
Alternative proteins maker StrainX raises $13-M led by Prime Venture Partners, Leo Capital
Bhopal-based biotech startup StrainX has raised USD 13 million in a funding round led by Prime Venture Partners and Leo Capital, with participation from Good Startup, Sparrow Capital, Sun Icon Ventures, Dholakia Ventures and WindT Angels.Founded in 2023 by IIT Delhi alumni Akshay Mittal and Alok Malaviya, StrainX manufactures alternative proteins through synthetic biology and precision fermentation, targeting applications in food, nutrition, materials, and cosmetics. StrainX has obtained regulatory approvals in the US for its products and is pursuing approvals in India. The company aims to scale its Bhopal facility’s 10,000-liter capacity by 10 times over the next two years.The company plans to use the new funds to expand capacity at its Bhopal bio-manufacturing fermentation facility to initiate commercial-scale production and to bolster its Bengaluru research and development lab by hiring additional scientists and enhancing tech capabilities.
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