In Bengaluru, India, BacAlt Biosciences has raised INR 18 crore (US$2.0 million) to fund R&D, add staff, and advance to pilot-scale production.
Founded in 2023 by Pranav Nair and Shruti Kutmutia, BacAlt Biosciences converts crop residues into bacterial cellulose and poly gamma glutamic acid. Derivatives of these products have applications in cosmetics, textiles, and agriculture.
The round was led by early-stage investment firm Avaana Capital, with participation from Lubrizol InnoVentures, the innovation arm of global specialty chemicals company Lubrizol.
“BacAlt’s vision is to power India’s emergence as a global hub for circular, bio-based specialty ingredients,” Kutmutia told Entrepreneur India. “The demand for high-performance, cost-competitive ingredients is real, and we are building for scale, taking India from an import-dependent market to an export-ready bio-manufacturing hub.”