A student biotech start-up under the Center for Innovation and Entrepreneurship Development (IEDC) of the Kerala Startup Mission (KSUM) has received a $ 10 million investment from the UAE-based TCN International Bank LLC, titled ‘Project’. Algae-Sewed Technology ‘, under the brand B-Lite Cookies.
The biotech start-up’s product was showcased at the GITEX 2020 International Conference held in Dubai, as it was part of the KSUM-led international start-up delegation.
Zaira Biotech, which focuses on research into the energy and food crisis using microalgae, received funding for its research and development, production, distribution and marketing under TCN International Commerce to reach the global arena.
Zaira Biotech founder and CEO Najib bin Hanif and TCN International Commerce Chairman and Managing Director Mohammed Shafi Abdullah signed a Memorandum of Understanding (MoU) in this regard in Sharjah on Saturday. George Ninan, Principal Scientist, ICAR-CIFT (Central Institute of Fisheries Technology), Kochi; Tapan Rayaguru, CEO, KSUM; According to the release, the principal of Saharanya College of Engineering and Technology, Thrissur, Nixon Kuruvilla, was involved in a release.
The start-up was founded by Mr. Hanif when he was a college biotechnology engineering student. Launched in the Sahitya Technology Business Incubator (Sahrya TBI), the start-up has collaborated with ICAR-CIFT and has helped the company become India’s first algae-sewed food product designer.
The team had established the ‘Mushroom Hub’ during its first year on campus, before venturing into an entrepreneurial venture.
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