Arboreal Bioinnovations Private Ltd, a specialty food and nutraceutical ingredients technology company, has raised nearly $24 million (Rs 230 crore) in a Series A funding round co-led by EAAA, the alternatives arm of Edelweiss; and Omnivore.
The funding also saw participation from existing investor Rainmatter by Zerodha.
The funding proceeds will be deployed to expand its manufacturing capacity, strengthen its research and development capabilities, and accelerate the commercialisation of its next generation of functional ingredients.
“This fundraise is a strong validation of the direction we are taking as a company. It gives us the fuel to accelerate our mission of building clean, science-led solutions that address some of the world’s most pressing nutritional and food challenges, with innovation originating in India and reaching consumers globally,” said Swati Pandey, co-founder & CEO, Arboreal Bioinnovations.
Founded in May 2018 by Swati Pandey and Manish Chauhan, Arboreal Bioinnovations develops solutions for the specific nutritional, functional, sensory and commercial requirements of Indian consumers and brands. Arboreal’s ingredient technology platform combines ingredient engineering, process research and development, formulation science, and precision manufacturing.
The company claims to have supported more than 300 product launches across over 1,100 consumer brands and nutraceutical manufacturers during the past 18 months.
