Telangana-based early-stage life sciences startup Telluris Biotech India Private Limited, on Wednesday, announced that it has raised over $4 Mn funding led by Innovation in Food and Agriculture Fund. The fund is managed by Sathguru Catalyzer Advisors, which got a minority holding in the company.
With the recent fundings, the company plans to expand in newer markets. Further, Telluris claimed that its proprietary biological and bio-molecular products have the potential to provide significant savings to crop growers.
Telluris claims to be involved in developing solutions to important issues that harm agricultural and food processing industries. The company says that it focuses on bringing environment-sensitive biological control products for the dreaded plant root-knot and cyst nematode-related disease.
Krishna Kumar, Chairman of Sathguru Catalysers said that the investment company has perceived the opportunity for Telluris to provide gains to growers through their pipeline of products that are uniquely positioned to application in a wide range of crops.
Founded by Venu Polineni, Telluris’ research has established proof of concept for four different products. The company is in the process of establishing field trial data for registration of its products.
Moreover, Telluris claims that its biological solutions will help to farmers growing crops such as capsicum, tomato, chilli, okra, gherkins, muskmelon, watermelon, carnations, roses, gerbera and anthuriums.
The company says that these crops have reached an unprecedented level, wherein a loss of about 80% in yield has been reported in their overall growth.
Rising Life Sciences Startups In Telangana
In February 2019, the government of Telangana hosted its annual flagship life-sciences and healthcare forum, BioAsia 2019, in Hyderabad. The event concluded with a startup stage where selected 76 startups presented their products across the sectors.
The forum hosted 76 startups from over 300 entries, focused on providing solutions like innovative pharma and biotech solutions, remote diagnostic mechanisms, heath therapeutic innovations, m-health technologies, wearable devices, among others that are instrumental in transforming life sciences and healthcare sectors.
The stage also saw 35 angels and venture capitalists including Fulcrum, 3one4 Capital, Unitus, Anthill participated in the forum.