Godrej Agrovet has bought an additional 10.91 per cent stake in Israeli biotech firm Maxximilk while Arinna Lifesciences is in talks with venture capital funds to raise around $10.7 million in a Series B round of financing.
Godrej Agrovet ups Maxximilk stake
Godrej Agrovet Ltd, the agribusiness subsidiary of Godrej Industries Ltd, has bought an additional 10.91 per cent stake in Israeli biotech firm Maxximilk Pvt. Ltd, thus taking its shareholding in the company to 62.97 per cent, it said in a BSE filing last week.
Financial details of the transaction were not disclosed.
Godrej Agrovet had bought a majority stake in Maxximilk in January last year. Maxximilk specialises in in-vitro production of high-quality embryos-for transfer and helps dairy farmers increase their yield.
Arinna Lifesciences in funding talks
According to an Economic Times report, the company has mandated investment bank KPMG to scout for investors. The Ahmedabad-based company has already received interest from mid-market PE funds and large VC funds.
Motilal Oswal PE had invested $5 million in Arinna Lifesciences in 2015.