Specialty food and nutraceutical ingredients technology company Arboreal Bioinnovations has raised Rs 230 crore (over $24 million) in a Series A funding round co-led by EAAA, the alternatives arm of Edelweiss, and Omnivore, with participation from existing investor Rainmatter by Zerodha. The proceeds will be used to expand manufacturing capacity, strengthen research and development capabilities, and accelerate the commercialisation of its next generation of functional ingredients, the company said in a press release. Founded in May 2018 by Swati Pandey and Manish Chauhan, Arboreal Bioinnovations develops specialty ingredients and solutions for nutraceutical and food and beverage brands. The Lucknow-based company provides ingredient and supply chain solutions across categories such as next generation proteins, sugar reduction solutions, cocoa ingredients, and nutraceutical actives. It says its products are used by food, beverage, and consumer packaged goods (CPG) brands to develop products for the Indian market. Arboreal currently serves more than 1,100 B2B customers across India. According to the company, it follows a contextual innovation approach to develop ingredient solutions tailored to the nutritional, functional, sensory, and commercial requirements of Indian consumers and brands. It says this approach has helped several food, beverage, and nutraceutical brands develop and scale new products. Arboreal's ingredient technology platform combines ingredient engineering, process research and development, formulation science, and precision manufacturing. The company has commercialised proprietary ingredients across next generation proteins, cocoa ingredients, natural zero calorie sweeteners, and functional fibres, while additional ingredient platforms are under development. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
