Telluris Biotech India Private Limited, an early-stage life sciences startup, has bagged more than $4 million (approx INR 28 crore) funding from Innovation in Food and Agriculture Fund, reported Inc42.
The Telangana-based startup will utilize the infused financials to expand in newer markets.
As per the sources, the fund is managed by Sathguru Catalyzer Advisors, which got a minority holding in the company.
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.
Telluris Biotech was founded by Venu Polineni in 2015. The company Telluris claimed that its proprietary biological and bio-molecular products have the potential to provide significant savings to crop growers.
Telluris also 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.
As per its LinkedIn page, 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.