Home WORLD NEWS 7 deep science firms at Bengaluru’s C-CAMP raise $70 million in Q1

7 deep science firms at Bengaluru’s C-CAMP raise $70 million in Q1

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BENGALURU: The Centre for Cellular and Molecular Platforms (C-CAMP), one of India’s largest biotech ecosystems and a global hub for deep-science and deep-tech led innovations on Thursday reported a successful first quarter (2022-23) with seven of its startups having raised more than $70 million (Rs 550 crore).

“The first quarter has been phenomenal with seven of our startups raising more than $70 million in Series A, Series B investments and acquisitions at a total valuation of more than $250 million or Rs 2,000 crore,” C-CAMP said.

The seven startups are: Bugworks, Sea6 Energy, String Bio, Eyestem, Pandorum,

Achira

and Zumutor. Stating that it has been supporting them for a decade, C-CAMP said such high investments for first-in-class high-risk technologies is an early indication of investor interest and could be a defining moment for the future of science-led entrepreneurships in India and beyond.

Taslimarif Saiyed, C-CAMP CEO & director, said, “These recent developments validate our long standing approach to building innovation: deep-science, high-risk but game-changing, solving not only local but global problems.”

The second factor, he said, was the international validation from investors outside of India that underlined the global relevance of these technologies. “These seven could be global torchbearers of India’s emerging deep science-based innovation community,” Saiyed added.

Between them, these seven C-CAMP startups cover all deep tech domains: From antibiotic discovery to immuno-oncotherapy, stem cell therapy to tissue engineering, molecular diagnostics to sustainable green technologies.

Pointing out that a primary ingredient for deep tech innovation across the world has been an enabling ecosystem with an appetite for risk, C-CAMP said that since its early inception days, it has strived to build such an ecosystem in India which was now starting to pay dividends.

“C-CAMP has gained much acclaim in India and beyond as an innovation engine, a catalyst, a cradle of innovation. These early stage innovation bets have started coming to fruition which is exciting for their science as well as India’s deep-tech innovation space. Together these seven stars are addressing humanity’s most pressing problems in healthcare, agriculture and environment. This semi-unicorn status will only help bring their solutions to society faster,” Saiyed said.

Startup fundraising details:

Bugworks: A novel broad spectrum antibacterial agent (BWC0977) available in both IV and oral forms to treat multi-drug resistant infections. They’ve currently raised $18 million in Series B led by Lightrock & other investors.

Sea6 Energy: Proprietary large-scale ocean seaweed cultivation technology and leverages this seaweed to create environmentally friendly products for agriculture, animal health, food, bioplastics and renewable chemicals. They have currently raised $18.5 million in Series B led by BASF Venture Capital & other investors.

String Bio: Proprietary fermentation platforms to convert a potent greenhouse gas – Methane- into value-added solutions for animal nutrition, crop inputs and biodegradable polymers. They have currently raised $20 million in Series B led by

Woodside Energy Group

and other investors.

Eyestem: Stem cell based affordable solutions to reverse vision loss in retinal degenerative illnesses. They have currently raised $6.4 million in Series A led by Biological E and other investors.

Achira: Proprietary lab-on-chip platform to perform rapid, quantitative diagnostic tests. Recently pharma major Cipla Ltd acquired 21.05% stake for Rs 25 crore.

Zumutor: Antibody engineering platform developing immune-therapeutics targeting tumours. They have currently raised $6.2 million led by Siana Capital & other investors.

Pandorum: Proprietary technology platform to create 3D functional tissues such as bio engineered cornea & liver. They have currently raised $4.8 million led by Indian business tycoon and chairman of Hero

Motorcorp Sunil

Kant Munja

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