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HomePosts Tagged "Banglore"
Acquaculture, Agrotech, Company News, Finance, India, Start ups

The company plans to deploy the funds on innovation, R&D and new collaborations.

UltraNutri, a Bengaluru-based biotech startup at the forefront of revolutionizing insect farming in India, has announced today that it has raised their first round of funding from C Camp, Featherlite Group, and prominent industry veterans including Prof. Ramaswamy Subramanian (Purdue University), Dr. Jogin Desai (Eyestem), Dr. Anand AnandKumar (Bugworks) and Shivram Warrior (Former HUL executive). The company plans to deploy the funds on innovation, R&D and new collaborations.

Currently, UltraNutri has built a pilot “Insect Factory” at Hoskote, Bengaluru, where it tests the scaleup related aspects and produces test quantities required for field trials. The company also plans to raise its Pre-Series A to strengthen its R&D, increase production and perform large-scale field trials.

Aquaculture, or farmed fish, which feeds more than 4.5 billion people, heavily depends on wild catch fish which is also called “fishmeal.  The supply constraints related to fishmeal will leave a considerable output gap of 50 million tonnes of aquaculture by 2050. Ultranutri, founded by Prof. Ram Subramanian, Dr. Anand Anandkumar, and Prof. Robert Deschenes aims to address this supply constraints through its breakthrough discoveries using Black Soldier Fly (BSF). Through this, Ultranutri technology also addresses the dual problems of climate change and sustainable aquaculture with a scalable and science-driven solution.

In fact, BSF will significantly reduce the loss of shrimp due to diseases and address the rising cost of feed. This discovery can potentially revolutionize shrimp farming in India- the world’s second-largest exporter of farmed shrimp. Industry estimates peg shrimp loss due to infectious diseases to be north of $ 1 Bn.

Commenting on this, Nitish Sathyanarayanan, Chief Scientific Officer of UltraNutri, said, “The primary challenge in India has been the availability of auditable and affordable feedstock for BSF to grow. Most agriculture waste in India is used to feed cattle and poultry, and the only agriculture waste available, such as sugarcane bagasse, rice stem, and corn cobs, has complex, inedible fibers. Ultranutri, with its team of scientists, has discovered breakthrough methods to render this waste edible for protein production and assist the ecosystem in reducing greenhouse gases which are generated in the disposal of this waste currently. We’re excited and happy to have collaborated with our investors in our journey to create a more meaningful impact in the society.”

The startup recently entered into two key R&D partnerships including Central Institute for Brackish Water Aquaculture (CIBA), a premier institute under Indian Council for Agricultural Research (ICAR), and The Waterbase Ltd, a pioneer in aqua feed manufacturing.

“Cost of production and scaleup has been the primary bottlenecks for shrimp feed manufacturers like WaterBase to incorporate BSF. UltraNutri team is solving these complex problems through their deep biotech expertise. Waterbase is committed to bringing this technology to the market, which will benefit lakhs of farmers,” said Ramakanth Akula, CEO of The Waterbase Limited.

Dr K K Lal, Director of Central Institute for Brackish Water Aquaculture (CIBA) underlines the fact on how this effort would undoubtedly provide a cost-effective alternative protein source to fish meal. “There is a scope to modify the fatty acid profile of the larvae that would also help in finding an alternative to fish oil,” he adds. 

The company plans to deploy the funds

Agrotech, India, R&D, Supply Chain

 Lab plans to conduct research in areas such as decarbonisation, circular economy and sustainable procurement.

India’s leading integrated multimodal logistics and supply chain solutions provider, Transport Corporation of India Ltd. (TCI Group), in collaboration with Indian Institute of Management Bangalore (IIMB), launched a new sustainability lab at the IIMB campus on April 28 with a focus on supply chain management. The TCI-IIMB Supply Chain Sustainability Lab (TCI-IIMB SCSL) will be a one-of-its-kind centre of excellence in sustainable supply chain practices, dissemination and advocacy.

The TCI-IIMB Supply Chain Sustainability Lab plans to conduct research in areas such as decarbonisation, circular economy and sustainable procurement, and publish white papers on sustainable supply chain management topics. It will also offer consulting services on carbon-related mapping, measurement, mitigation and management. Moreover, it targets to provide certification and assessment services, such as supplier sustainability assessment. It has already initiated research projects, white papers and case studies, and is partnering with other organisations such as WRI India, Herbal Life, etc.

This new lab is a testament of IIMB’s commitment to academic excellence, research and innovation in the areas of sustainability and supply chain. It will be a vital resource for the academic community and the wider business fraternity.

The lab was inaugurated by renowned Indian cardiac surgeon Dr Devi Prasad Shetty, Chairman and Executive Director of Narayana Health and Chairperson, Board of Governors, IIMB, along with DP Agarwal, Chairman of Transport Corporation of India.

Dr Devi Shetty pointed out that Supply Chain is an important foundation on which the development of nations depends. “Our government has made several regulatory changes addressing many hurdles in this domain. However, two issues remain – sustainability – in terms of pollution control and efficiency – in terms of digitalization, are two key areas that need to be addressed. A lab like the TCI-IIMB Supply Chain Sustainability Lab will fill this gap and come up with brilliant solutions for these issues, while also contributing to bringing down diseases caused by pollution and reducing costs.”

DP Agarwal unveiled the logo and stated that the lab is aligned to IIMB’s ethos of sustainability in fostering excellence in management, innovation and entrepreneurship. “In a structured and professional way, the lab will help foster green practices, which will deliver positive outcomes.”

Prof. Rishikesha T Krishnan, Director, IIM Bangalore spoke about the objective of setting up such a lab at the institute. “IIMB’s Supply Chain Management Centre has close interaction with the industry, which also results in various live projects for our students as well. In today’s globalized world, the impact of sustainability and digitalization on supply chains is part of business strategy. As we move into two new areas – impact of digitalization on supply chains, and bringing in sustainability into all aspects of supply chains, a lab like this has special significance.”

The inauguration also saw Vineet Agarwal, Managing Director of TCI Group, launching the beta version of a GHG Measurement Tool. This tool named TEMT has a multi-lingual interface, enabling the grassroots level adoption by India’s logistics and supply chain ecosystem. It covers all modes of transportation, that is, road, rail, air and sea.

In his address, Vineet Agarwal spoke in detail about the Transportation Emission Measurement Tool. “You cannot improve unless you measure. Investors, customers, and regulators all want us to measure, monitor and mitigate emissions. As a nation and business community in India, we encountered two challenges in mitigating emissions from transportation: the lack of proper transportation emission factors and a tool to measure such emissions. There was no ready reference. This tool will address both the issues. We believe that this lab will build a community of problem solvers, by combining research with industry expertise, helping us address the challenges in a clean and green way.”

 Lab plans to conduct research in areas