Hyderabad-based biotech startup ELMED Life Sciences has successfully raised $2.7 million (approximately Rs 25 crore) in a Series A funding round, with the investment led by the AgriSURE Fund, which is managed by NABVENTURES.
The funding will be directed towards expanding the company’s manufacturing capabilities in Hyderabad, enhancing its research and development (R&D) efforts, and scaling its distribution network across Tier 2 and Tier 3 markets within India. Additionally, ELMED aims to strengthen its presence in international markets.
Founded in 2018 by Pruthivin Reddy Madduri and co-founder Nikhil Konkathi, ELMED Life Sciences is focused on developing probiotic and biological solutions that address various sectors, including animal health, agriculture, aquaculture, and human health. The company’s product offerings cater to poultry, dairy, livestock, aquaculture, and soil health, with an emphasis on leveraging microbiome-based technologies to enhance productivity and sustainability.
ELMED Life Sciences operates on a business-to-business (B2B) model, supplying enterprise clients such as Alchem and Hetero with products designed for their probiotic supplements. The company handles the entire process from formulation to supply, while the final products are marketed under the brand names of its partners.
Currently, ELMED exports to over 18 countries and is actively targeting further expansion into markets across Europe, Asia, and Latin America.
Ashish Choudhary, Investment Manager at AgriSURE Fund, NABVENTURES, commented on the investment, stating, “Indian agriculture is steadily moving towards more sustainable and residue-free practices, creating a strong need for reliable biological solutions. Through the AgriSURE Fund, we focus on backing businesses that can drive this shift at scale. ELMED has demonstrated both scientific strength and on-ground adoption across key agri segments, and this investment will support its next phase of growth in manufacturing and market expansion.”