UAE company invests Rs 72 crore in Malayalee startup

UAE company invests Rs 72 crore in Malayalee startup


Highlight:

  • Huge investment in Malayalee student’s biotech startup
  • The UAE company is investing in Sara Biotech
  • The investment is around Rs 72 crore

Kochi: A huge investment has been made in the biotech startup of a Malayalee student. Sara Biotech, an institution under the Kerala Startup Mission’s Innovation and Entrepreneurship Development Center, is eligible for investment. The startup has received $ 10 million in investment from UAE-based TCN International Commerce LLC. The startup products were showcased at the Gtex 2020 International Conference in Dubai

The company has invested in a project called Alga Seaweed Technology under the B-Light Cookies brand. Assistance is provided for research projects using algae in the energy and food crisis areas. In addition to research and development and manufacturing activities, the fund will support product marketing internationally under TCN International.

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Najeeb bin Haneef Sarah Biotech was founded in 2016 when he was an engineering student. Najeeb, the founder and CEO of the company, was a student of Sahrudaya College of Engineering and Technology.

The company is working with CIFT, a biotech startup incubating in the Sahrudaya Technology Business Incubator, to launch the first seafood food product in India. Even before entering the entrepreneurial arena, biotech startup team members had won many accolades for designing photo bioreactors using micro algae.

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