Dare Ventures, the venture capital arm of Coromandel International Limited has announced that they have invested in Bengaluru based biotech startup String Bio

Dare Ventures, the venture capital arm of Coromandel International Limited has announced that they have invested in Bengaluru based biotech startup String Bio alongside Woodside Energy Group and existing investors Ankur Capital, Redstart and Zenfold Ventures. The investment was part of the $20 million first close of the Series B fund raise.

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With a vision to build a world where cleaner and better ways of living are enabled by biotechnology, String has developed a set of next generation products across different sectors to deliver such solutions. Through its innovative technology platform, String leverages advances in biology, fermentation technology, chemistry, and process engineering to convert methane (a highly potent greenhouse gas) into high quality products and ingredients for agriculture, animal nutrition, human nutrition, and personal care sectors.

Targeting the agriculture industry, String has developed several bio stimulant products targeting horticulture as well as large acreage crops.

These products are designed to enhance the yield while simultaneously contributing to reduction of greenhouse gas emissions from agriculture and catering to the demand of natural and healthy produce.

In addition, through its protein rich ingredients with robust amino acid and mineral compositions, String is also bringing a paradigm shift in animal nutrition and human nutrition sectors. The company has signed a strategic development agreement with Woodside Energy Technologies Pty Ltd. for production of these sustainable protein ingredients for animal nutrition.

Coromandel, India’s largest private sector phosphatic fertilizer company also has a significant bioproducts division with sales across several geographies including India, US, Europe, and Latin America. The company is presently the largest manufacturer of neembased Biopesticides globally and is also the largest marketer of Organic agri-input products in India.