Elmed Life Sciences has raised US$2.7 million from Nabard-backed Agrisure Fund to grow its business in life sciences and agri-biotech.
The company will use this money to improve its research and development, increase manufacturing capacity, and expand into new markets. It focuses on creating sustainable, science-based solutions for agriculture and related sectors.
“We handle end-to-end formulation and supply to pharma companies such as Alchem and Hetero for their probiotic supplements,” founder Pruthivin Reddy Madduri said. “We are the manufacturer, while the final product is sold and marketed under our partners’ brand names.”
“Indian agriculture is steadily moving towards more sustainable and residue-free practices, creating a strong need for reliable biological solutions. Through the AgriSURE Fund we focus on backing businesses that can drive this shift at scale,” said Ashish Choudhary, investment manager, Agrisure Fund, Nabventures.
Elmed Life Sciences was founded in 2018 by Pruthivin Reddy Madduri and Nikhil Konkathi in Hyderabad. The company makes probiotic and biological products for animal health, aquaculture, agriculture, and human health.
It already works with several companies in the human health space, while its products for animal health and agriculture are still being developed. Its farm products are designed to improve productivity, immunity, and sustainability.
Elmed is a B2B company that serves large clients like Aurobindo and Apex Laboratories. It exports to more than 18 countries and plans to expand further in Europe, Asia, and Latin America, as demand grows for sustainable and antibiotic-free solutions.
This funding comes after the launch of the BIRAC-RDI fund, which has set aside ₹2,000 crore under the government’s ₹1 lakh crore RDI scheme to support innovation.
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