Photo: Loopworm
Bangalore, India-based insect biotech company Loopworm has announced the successful closure of a $3.25 million funding round, led by WaterBridge Ventures and Enrission India Capital.
According to the company, the funding will support the commercialisation of its recombinant protein production platform, which uses silkworms as "bio-factories". Loopworm claims this method enables the production of recombinant proteins with “significantly superior yields and quality” compared to traditional bioreactor-based systems, and offers a more sustainable alternative.
The investment, revealed in a LinkedIn post by the company, also included participation from Claris Capital Limited, Vinay Mittal, Rohit Chawla and Keshav Damani.
Following three years of research and development, Loopworm reports that it has built the foundational technology for its production platform. The funds secured through this latest round will be used to establish a dedicated commercial facility and to bring its protein products to market in applications such as diagnostics, animal health and industrial biotechnology.
The company also said it the funding will support international growth in its animal and pet nutrition business, which includes protein supply for aquaculture feed.
"This funding milestone positions Loopworm to advance India's bio-economy objectives while addressing global demand for cost-effective, scalable protein production solutions," the company stated in its announcement, thanking the investors "for their confidence in our technology platform and commercial vision."