ELMED Life Sciences, a manufacturer of probiotics, has successfully raised $2.7 million (₹25.4 crore) in a Series A funding round from the NABVENTURES-managed AgriSURE Fund, which focuses on startups and rural enterprises.
The funds will be utilized to enhance production capabilities and bolster research and development centered on microbiome solutions.
Microbiome-based solutions aim to regulate the balance of bacteria, fungi, and viruses within a host organism, promoting ecological stability and resilience across various life forms.
In addition to production expansion, ELMED plans to increase its distribution network in Tier II and Tier III markets in India while also targeting key international markets. Currently, the company exports to over 18 countries and is looking to grow its presence in Europe, Asia, and Latin America.
Founded in 2018 by VIT alumni Pruthivin Reddy Madduri and Nikhil Konkathi, ELMED provides contract manufacturing and R&D services to global healthcare and agri-biotech firms. Its notable clients include Xanum, Hetero Healthcare, Wallace Pharmaceuticals, and Donovan.
Headquartered in Hyderabad, ELMED's facility is designed to produce high-quality probiotics in various forms, including oral suspensions, emulsions, drops, capsules, sachets, and syrups, catering to humans, aquatic life, animals, and plants.
This funding round aligns with a growing trend among Indian startups in the agritech and healthtech sectors, which are increasingly focusing on microbiome research as natural alternatives gain popularity.
Investor interest in this area is on the rise. For instance, last May, gut health startup The Good Bug raised ₹100 crore to advance its gut microbiome research and expand its operations in India. Similarly, agri-biotech startup GreenGrahi secured ₹32 crore to develop India's largest Black Soldier Fly bio-factory.
