New Delhi, March 26 ELMED Life Sciences announced on Thursday that it has raised USD 2.7 million (Rs 25 crore) in Series A funding from AgriSURE Fund, an agri-focused investment fund managed by NABVENTURES, the venture capital arm of the National Bank for Agriculture and Rural Development (NABARD).
With this new funding, ELMED Life Sciences aims to expand its manufacturing capabilities in Hyderabad while strengthening its research and development in microbiome-based solutions.
The company is also focused on deepening its distribution network across Tier 2 and Tier 3 markets in India and building a stronger presence in international markets driven by rising demand for sustainable, antibiotic-free solutions, it stated.
"The support of the AgriSURE Fund is a strategic partnership with an institution that understands this market from the ground up. With this funding, we are ready to take ELMED to its next chapter: deeper into the heart of Indian agriculture, and broader into global markets that increasingly demand clean, biological, and residue-free solutions," Pruthivin Reddy Madduri, Founder & Managing Director, ELMED Life Sciences, said.
Ashish Choudhary, Investment Manager, AgriSURE Fund, NABVENTURES, said, "Through the AgriSURE Fund, we focus on backing businesses that can drive this shift at scale. ELMED has demonstrated both scientific strength and on-ground adoption across key agri segments, and this investment will support its next phase of growth in manufacturing and market expansion".