Startup News: Hyderabad-based startup ELMED Life Sciences has raised funds in Series A funding. The startup said that it has collected Rs 25 crore from AgriSURE Fund.
ELMED Life Sciences is a biotechnology startup. It is a manufacturer of pharmaceuticals, medicinal chemicals and botanical products.
ELMED Life said that it has raised funds from AgriSURE Fund -- an agri-focused investment fund. It is managed by NABVENTURES.
NABVENTURES is a venture capital arm of the National Bank for Agriculture and Rural Development (NABARD).
The startup said that it will utilise funds to expand its manufacturing capabilities in Hyderabad. Besides, funds will also be used to strengthen its research and development stream.
ELMED Life also said that it has plans to deepen its distribution network across Tier 2 and Tier 3 markets in India.
Additionally, ELMED Life has plans to build a stronger presence in international markets.
According to ELMED Life, there is a high demand for sustainable, antibiotic-free solutions in the international market.
