THIRUVANANTHAPURAM: Thrissur-based biotechnology startup Zaara Biotech has scooped up an undisclosed amount of investment from US-based Transcend International to set up its Algal seaweed technology facility in the United States. The startup, fostered under the Kerala Startup Mission’s (KSUM) flagship IEDC (Innovation and Entrepreneurship Development Centre) scheme, will use the amount for setting up a manufacturing facility for food and beverages under the brand name ‘B-lite’, and a research centre for photobioreactors in the USA.
In 2021, Zaara Biotech secured a $10 million investment from UAE-based TCN International Commerce for the same technology. Currently, the startup is functioning in the UAE for setting up a manufacturing facility for FMCG products. Lauding the startup’s achievement, KSUM CEO John M Thomas said Zaara Biotech’s growth is a testimony to the vibrancy of IEDCs on campuses in nurturing entrepreneurial skills among students. “Zaara Biotech’s achievement will be an inspiration for the fledgling startups at IEDCs,” Thomas said.
Zaara Biotech Founder and CEO Najeeb Bin Haneef said the complete operations in production and R&D will be done by Zaara Biotech while the other operations will be handled by team Transcend under the incorporation name Zaara Biotech International. Haneef said all activities of Zaara Biotech USA will be constrained to the US only, as globally Zaara Biotech India acts as a parenting company. The startup has also manufactured India’s first algal seaweed cookies, including high protein algal Spirulina cookies.
KSUM has a network of around 320 mini-incubators called IEDCs on campuses to promote technological entrepreneurship among students.