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Carbon capture-tech platform Intrinsic Foundries raises Rs.12-Cr led by Transition VC

Economic Times   Intrinsic Foundries  

Jharkhand- and Boston (USA)-based Intrinsic Foundries has raised INR 12 crore in a seed funding round led by Transition VC.Founded in 2023 by Shreyansh Jain, Sanjay Jain, and Umang Jain, Intrinsic Foundries develops systems that use microalgae to convert industrial carbon emissions into biochemical products. Intrinsic Foundries targets sectors such as food, nutraceuticals, cosmetics, and advanced materials.The company plans to use the new funds to run industrial pilots, expand research, file intellectual property, and build its engineering and commercial teams. It also intends to strengthen manufacturing capabilities and establish a USA entity. Over the next 12 to 24 months, the company aims to commission multiple industrial pilots and operationalise its first one-tonne-per-day commercial plant, while also expanding its patent pipeline and generating early revenues from pilot deployments.