StrainX Raises $13 Mn Led By Prime Venture Partners And Leo Capital
StrainX currently operates a 10,000-litre fermentation facility in Bhopal and plans to significantly expand its production capacity over the next two years.
Biotech startup StrainX Bioworks has secured $13 million (around ₹124 crore) in a funding round led by Prime Venture Partners and Leo Capital. The round also saw participation from Good Startup, Sparrow Capital, Sun Icon Ventures, Dholakia Ventures, and WindT Angels.
The fresh capital will be used to scale capacity at the company’s bio-manufacturing facility in Bhopal, begin commercial-scale production, strengthen its Bengaluru research lab, hire additional scientists, and enhance technology capabilities.
Founded in 2023 by Akshay Mittal and Alok Malaviya, StrainX develops alternative proteins using synthetic biology and precision fermentation technologies for applications across food, nutrition, cosmetics, and materials.
The startup engineers microbes such as bacteria, yeast, and fungi to produce proteins in controlled fermentation environments. It claims to have received regulatory approval in the US for commercialisation and is currently working towards approvals in India.
StrainX currently operates a 10,000-litre fermentation facility in Bhopal and plans to expand production capacity significantly over the next two years. The company says its India-based manufacturing model provides a pricing advantage in the global bio-manufacturing market.
Speaking on the sector opportunity, Co-Founder Akshay Mittal said bio-manufacturing could redefine the future of industrial production, replacing traditional chemical manufacturing methods with more efficient and cost-effective biological processes.
The startup currently employs nearly 100 people across its research, engineering, manufacturing, and operations teams and plans to double its workforce by the end of the current financial year.
The funding comes amid growing momentum in India’s biotechnology sector, supported by government initiatives such as the ₹10,000 crore Biopharma SHAKTI scheme and increasing investor interest in biotech and alternative protein startups.