Polymer maker from agri waste BacAlt raises Rs.18-Cr led by Avaana Capital

Bengaluru-headquartered biotech startup BacAlt Biosciences has raised INR 18 crore in a funding round led by early-stage investment firm Avaana Capital. The company is valued at USD 8 million. The round also saw participation from Lubrizol InnoVentures, an arm of global specialty chemicals provider Lubrizol.BacAlt was founded in 2023 and specialises in the research and development (R&D) of bio-based polymers from agricultural waste.The startup will use the new funds to scale R&D processes, build pilot production facilities, expand its team and develop go-to-market strategies for geographic expansion.