Nabventures Fund, a VC fund focused on agri-food tech backed by Nabard, on Friday said it has led a pre-series A investment of Rs 10 crore in KBCols Sciences.
Other investors that participated in the round include Chiratae Ventures (existing investor), Axilor Ventures (existing investor), AWE Funds and Rahul Rathi (Promoter of Sudarshan Chemicals), the company said in a statement. This is the third investment announced by Nabventures this month, it added. Nabventures Fund is a growth equity fund with AUM (asset under management) of Rs 598 crore that invests in food, agritech, and rural fintech.
Till date, the fund has invested Rs 230 crore in 11 startups including Jai Kisan, Unnati, Satyukt, KBCols, Vilcart, TenderCuts, KrishiTantra, TraceX, Eggoz, a stealth startup and FRAAZO. KBCols, a deeptech start-up, uses its proprietary technology to produce sustainable natural bio-colors using renewable biomass (microbes). KBCols technology extracts new safe bio-resources that produce stable and consistent natural colors using agro-industrial waste as a nutrient source.
Pingback: Govt raises interest rates on select small saving schemes by up to 0.3 pc