A Kerala scholar’s biotech startup fostered underneath the Innovation and Entrepreneurship Growth Centre (IEDC) scheme of Kerala Startup Mission (KSUM) has bagged an funding of $10 million from the UAE-based TCN Worldwide Commerce LLC for his challenge titled “Algae-Seaweed Know-how”, underneath the model B-lite Cookies.
The biotech startup’s product was showcased within the GITEX 2020 worldwide convention held in Dubai because the startup was a part of the worldwide startup delegation led by KSUM.
Zaara Biotech, which focuses on analysis in power and meals disaster utilizing micro-algae, obtained the funding for its analysis and growth, manufacturing, distribution and advertising and marketing underneath TCN Worldwide Commerce.
Najeeb Bin Haneef, Founder and CEO of Zaara Biotech, and Mohamed Shafi Abdulla, Chairman and Managing Director of TCN Worldwide Commerce, signed the MoU on this regard on Saturday.
Zaara Biotech was based by Haneef when he was a biotechnology engineering scholar at Sahrdaya Faculty of Engineering and Know-how in 2016.
The biotech startup, which was incubated in Sahrdaya Know-how Enterprise Incubator (Sahrdaya TBI), has collaboration with ICAR-CIFT and it has helped the corporate to grow to be India’s first algae-seaweed meals product designer.
The workforce of Zaara had arrange a ‘Mushroom Hub’ throughout its first yr on the campus earlier than foraying into entrepreneurial ventures.
TCN Worldwide Commerce has its presence in a number of sectors reminiscent of IT, enterprise course of administration, buying and selling, healthcare, training, FMCG, building and engineering, defence, crucial service suppliers, aviation and oil and gasoline.
KSUM is the nodal company of the Kerala authorities for entrepreneurship growth and incubation actions within the state.