ELMED Life Sciences and Canvaloop Raise Fresh Funds

ELMED Life Sciences Bags USD 2.7 Mn in Series A Round

Biotech startup ELMED Life Sciences has secured USD 2.7 million (around INR 25 crore) in a Series A funding round led by AgriSURE Fund, managed by NABVENTURES.

The fresh capital will be used to expand its manufacturing capacity, strengthen research and development, and grow its distribution network in India and overseas.

Founded by Pruthivin Reddy Madduri and co-founded by Nikhil Konkathi, ELMED Life Sciences develops probiotic and biological solutions for sectors including animal health, agriculture, aquaculture, and human health. Its products cater to poultry, dairy, livestock, aquaculture, and soil health, with a focus on improving productivity through microbiome-based approaches.

The company plans to expand its manufacturing operations in Hyderabad and increase its reach in tier II and tier III markets. It also aims to deepen its international presence, where demand for sustainable and antibiotic-free solutions continues to rise. ELMED currently exports to more than 18 countries.

Biomaterials Startup Canvaloop Secures USD 1.5 Mn Funding

Canvaloop, a biomaterials startup, has raised USD 1.5 million in funding from Gujarat Venture Finance Limited (GVFL) and Rockstud Capital.

The investment will be used to expand production capacity, improve supply readiness, reduce delivery timelines, and scale its alternative fibre platform.

Founded in 2020 by Shreyans Kokra, the Surat-based firm converts agricultural waste such as pineapple, banana, and hemp into textile-grade fibres. It uses a proprietary closed-loop process designed to minimise water and chemical usage.

Canvaloop works with natural feedstocks including hemp, flax, and crop residues to create material alternatives for the textile industry. The company focuses on developing solutions that can be produced at scale while reducing environmental impact.

Going forward, Canvaloop plans to invest in next-generation materials, including regenerative fibres, as it looks to support more sustainable and resilient textile supply chains.