ELMED Life Sciences Secures $2.7M Funding for Global Expansion

ELMED Life Sciences has raised USD 2.7 million in Series A funding from the AgriSURE Fund, managed by NABVENTURES. The funding will help expand manufacturing in Hyderabad, enhance R&D for microbiome solutions, and deepen distribution across India and internationally, aiming for sustainable, antibiotic-free solutions in agriculture.

ELMED Life Sciences announced on Thursday its successful raising of USD 2.7 million in Series A funding from the AgriSURE Fund, an initiative of NABVENTURES, the venture capital branch of the National Bank for Agriculture and Rural Development (NABARD). This financial boost is aimed at enhancing the company's manufacturing operations in Hyderabad and bolstering research and development efforts for microbiome-based solutions.

The company plans to use the funds to also expand its distribution network across Tier 2 and Tier 3 markets in India, while establishing a stronger foothold in international markets. This move aligns with the growing worldwide demand for sustainable and antibiotic-free solutions, according to Pruthivin Reddy Madduri, Founder and Managing Director of ELMED Life Sciences.

Ashish Choudhary, Investment Manager at AgriSURE Fund, emphasized that the fund targets businesses capable of driving large-scale shifts in agriculture. He affirmed that ELMED has shown significant scientific prowess and practical application, positioning it well for expansion in manufacturing capacity and market reach.

(With inputs from agencies.)