Thrissur-based startup Zaara Biotech secures $10 mn funding from UAE-based TCN International Commerce
- ByStartupStory | June 6, 2022
Zaara Biotech, a biotechnology startup supported by the Kerala Startup Mission’s (KSUM) flagship Innovation and Entrepreneurship Development Centre (IEDC) scheme, has received an undisclosed amount of funding from Transcend International to establish the startup’s algal seaweed technology facility in the United States. Zaara Biotech will utilise the funds to establish a food and beverage production plant under the brand name ‘B-lite,’ an algal seaweed growing facility, and a photobioreactor research centre in the United States.
Zaara Biotech has obtained a $10 million investment from UAE-based TCN International Commerce for the same technology in 2021. Zaara is now working in the UAE to establish a production plant for FMCG items.
John M Thomas, the CEO of KSUM praised the startup’s success, saying Zaara Biotech’s development demonstrates the vitality of IEDCs on campuses in cultivating entrepreneurial abilities among students. IEDCs assist budding entrepreneurs in gaining enough exposure and technological skills, as well as establishing a climate conducive to the establishment of businesses by generating creative goods of social importance. Zaara’s accomplishment will undoubtedly serve as an inspiration to the young entrepreneurs at IEDCs, he concluded.
Zaara Biotech’s founder and CEO Najeeb Bin Haneef stated that his business would manage all manufacturing and R&D activities, while team Transcend will handle all other operations under the incorporated name, Zaara Biotech International. He also said that all Zaara Biotech USA activities would be limited to the United States, as Zaara Biotech India serves as a parent business internationally. Zaara Biotech links many partners in various regions to build the company and enter the existing FMCG industry with algal seaweed goods.
In addition, the startup created India’s first algal seaweed cookies, including high protein algae Spirulina biscuits. Founded in 2016 on the campus of Sahrdaya College of Engineering and Technology, Kodakara in Thrissur, the business flourished through the KSUM IEDC programme, as well as exposure to the GITEX 2019 trade show in Dubai.
Follow Startup Story
Related Posts
