Agri-Biotech Startup GreenGrahi Raises Pre-Seed Funding
- ByStartupStory | July 12, 2023
GreenGrahi, an Agri-biotech startup based in Bangalore, Karnataka, India, has successfully raised pre-seed funding from Campus Fund, a venture capital firm. The investment will enable GreenGrahi to expand its production capacity, enhance research and development efforts, and explore new market opportunities. Founded in 2021 by Siddharth Sharma and Shivali Sugand, GreenGrahi specializes in developing high-quality insect-based ingredients and supplements for animal and plant nutrition using innovative biotechnology and engineering processes.
GreenGrahi adopts a circular approach by sourcing agricultural by-products from partner FMCG companies and agri-input suppliers. They employ their proprietary technology known as Climate CubesTM to breed and rear black soldier flies, transforming low-value commodities into valuable nutrients that can be used to increase food production for humans. With a focus on sustainability, GreenGrahi aims to create a system that benefits both the economy and the environment, drawing inspiration from nature and leveraging technology.
The startup’s primary goal is to provide an alternative to traditional sources of nutrition by producing superior insect-based ingredients and supplements for shrimp, fish, poultry, pets, and plants. Currently, GreenGrahi is conducting pilot projects with leading animal and plant nutrition industries, operating an end-to-end field trials unit in Roorkee. To drive innovation in the insect industry, the founders have established strong research and development collaborations with prominent biotech labs in India, Israel, and Germany.
The global demand for food is projected to double by 2050 due to population growth and increasing living standards. However, the exploitation of 51% of agricultural land and 90% of the world’s marine fish stocks to meet current needs has resulted in disruptions in the supply of essential nutrients, leading to unstable and inflated prices worldwide. Moreover, nearly 30% of the food produced today goes to waste. GreenGrahi aims to address these challenges by producing nutrient-rich feed sustainably using agricultural residues, contributing to the circular economy. Siddharth Sharma, the co-founder of GreenGrahi, stated that the company aims to conduct commercial pilots and develop capabilities required for scaling with the raised funds.
With positive feedback from over 250 interviews with global food industries, animal feed companies, insect farming companies, and subject matter experts, GreenGrahi is preparing to operate on an industrial scale. Their innovative approach not only enhances production and operational metrics but also delivers the highest quality insect nutritional profiles available in the Indian market.
Darshan Doshi, Student Investment Partner at Campus Fund, and part of the GreenGrahi deal team said, “What excites us most about the GreenGrahi team is the deep expertise and the vision they bring to the table, along with the large and growing demand for sustainable animal and plant nutrition solutions. Traditional methods of feed production are unsustainable and are prone to multiple externalities such as price shocks. In this backdrop, GreenGrahi’s novel insect ingredients that leverage agricultural residues are well positioned to create a long-lasting impact in the ecosystem.”
Follow Startup Story
Related Posts
