Bacalt BioSciences Private Limited has raised ₹18 crore from a fundraise led by Avaana Sustainability Fund.
White & Brief advised BacAlt on this fundraise.
The transaction team was led by Arvind Gurumurthy (Senior Partner).
JSA Advocates & Solicitors acted as legal advisor to lead investor Avaana Sustainability Fund. The Firm provided end-to-end legal support, including conducting due diligence on BacAlt, drafting, negotiating and finalizing transaction documents, and assisting with closing actions.
The transaction was led by Siddharth Mody (Lead Partner). He was supported by Anurag Shrivastav (Partner), Associates Shefalika Shekhawat, Gavin Perereia, and Prakhar Jain.
Founded in 2023 by Shruti Kutmutia and Pranav Nair, BacAlt is a Bangalore-based start-up that develops sustainable alternatives to conventional specialty ingredients by producing biopolymers from agro-industrial waste through advanced bio-manufacturing processes.
The funding round, which also saw participation from Lubrizol Advanced Materials Europe BV, raised primary capital infusion, which Bacalt intends to deploy to scale its R&D processes, establish pilot production facilities, expand its team, and develop go-to-market strategies for international expansion.
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