BacAlt Raises INR 18 Cr To Make Biopolymers From Agricultural Waste

Bengaluru-based BacAlt Biosciences has raised INR 18 Cr (around $2 Mn) in its pre-seed funding round led by Avaana Capital, with participation from specialty chemical company Lubrizol’s venture platform Lubrizol InnoVentures.

The biotech startup plans to use the capital to scale up its research and development (R&D) process, build production facilities, and expand its team.