Hyderabad-based biotech startup ELMED Life Sciences raises $2.7 million from AgriSURE Fund

Hyderabad-based biotech startup ELMED Life Sciences has raised $2.7 million (around Rs 25 crore) in a Series A funding round led by AgriSURE Fund, managed by NABVENTURES.

The startup said the funds will be used to expand its manufacturing capabilities in Hyderabad, strengthen research and development (R&D), and scale distribution network across Tier 2 and Tier 3 markets in India and building a stronger presence in international markets.

Founded in 2018 by Pruthivin Reddy Madduri and co-founder Nikhil Konkathi, ELMED Life Sciences develops probiotic and biological solutions spanning animal health, agriculture, aquaculture and human health. Its products cater to poultry, dairy, livestock, aquaculture and soil health, with a focus on improving productivity and sustainability through microbiome-based technologies.

“We handle end-to-end formulation and supply to pharma companies such as Alchem and Hetero for their probiotic supplements,” Madduri said. “We are the manufacturer, while the final product is sold and marketed under our partners’ brand names.”

The startup operates a B2B model, supplying enterprise clients including Aurobindo and Apex Laboratories. It currently exports to more than 18 countries and is targeting further expansion across Europe, Asia and Latin America.

Speaking about the investment, Ashish Choudhary, Investment Manager, AgriSURE Fund, NABVENTURES, said, “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.”