Arboreal Bioinnovations has raised over $24 million in a Series A funding round. The round was co-led by EAAA, the alternatives arm of Edelweiss, and Omnivore. Existing investor Rainmatter by Zerodha also took part.
The company plans to use the funds to expand manufacturing capacity. It will also strengthen research and development and speed up commercialisation of new functional ingredients.
Arboreal Bioinnovations was founded in May 2018 by Swati Pandey and Manish Chauhan. The company is based in Lucknow, India. It develops specialty ingredients for the nutraceutical and food and beverage industries.
The company works across several categories. These include next generation proteins, sugar reduction solutions, cocoa ingredients, and nutraceutical actives. Its products help food, beverage and consumer packaged goods brands develop products for Indian consumers. Arboreal currently serves more than 1,100 B2B customers across India.
Arboreal follows what it calls a contextual innovation approach. This means tailoring ingredient solutions to the nutritional, functional, sensory and commercial needs of Indian consumers and brands. The company says this approach has helped several brands develop and scale new products.
Its ingredient technology platform combines several disciplines. These include ingredient engineering, process research and development, formulation science, and precision manufacturing. Arboreal has already commercialised proprietary ingredients in next generation proteins, cocoa ingredients, natural zero-calorie sweeteners, and functional fibres. More ingredient platforms are currently under development.
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