Bengaluru, NFAPost: Zaara Biotech, an upcoming Indian biotechnology startup, has bagged $10 million in seed funding from UAE’s TCN International Commerce. As the Mint reports, the startup has received the funding for its project AlgaeSeaweed Technology, which focuses on research in energy and food crisis using micro-algae.
Zaara’s project runs under the brand name of B-lite Cookies as its founder and CEO Najeeb Bin Haneef has signed up a memorandum of understanding (MoU) with Dr. Mohd. Shafi Abdulla, chairman and managing director at TCN International Commerce LLC, in Sharjah on Saturday.
As a biotech engineering student at Sahrdaya College of Engineering and Technology, Mr. Haneef gave birth to the Zaara Biotech startup in 2016. The startup was incubated by Sahrdaya Technology Business Incubator in partnership with Indian Council of Agriculture and Research-CIFT while working on India’s first algae-seaweed food products.
Initially, Zaara had built a mushroom hub before venturing into a full-fledged project on algae-seaweed food products. Kerala Startup Mission (KSUM) enabled the startup to showcase its products at GITEX 2020 international conference in Dubai under its Innovation and Entrepreneurship Development Centre scheme.
TCN International Commerce has built its reputation across various sectors such as IT, FMCG, business process management, trading, healthcare, education, aviation, oil and gas, and so on.