Three startups incubated at riidl received a SEED Funding of INR 75 Lakhs through Biotechnology Industry Research Assistance Council (BIRAC)
Three startups Beaniesnak Foods Pvt Ltd, Inphlox Water Systems Pvt Ltd, Savemom Pvt Ltd incubated at riidl have received a total of INR 75 Lakhs through the Biotechnology Industry Research Assistance Council (BIRAC) Sustainable Entrepreneurship and Enterprise Development Fund (SEED) funding, Department of Biotechnology, Government of India. BIRAC SEED Funding enables these startups to graduate to a level where they will be able to raise investments from Venture capitalists or seek loans from banks. Thus, the proposed seed support is positioned to bridge promoters investment and Venture/Angel investment.
Indra Water (Registered as Inphlox Water Systems Pvt Ltd) makes decentralized and modular wastewater treatment & monitoring systems based on their patented physio-electrical process technology. Their work has been recognized globally and they’ve received awards from Imagine H2O, Columbia University, Millennium Alliance to mention a few. They have ongoing engagements with more than 25 customers and saved 200M+ Liters of water, positively impacting 5,00,000+ people.
Savemom Pvt Ltd is a med-tech project aimed to reduce ‘maternal and infant mortality and morbidity with timely and appropriate care during the First 1000 days with the help of our AI-enabled IoT Kit and Telemedicine software. Our traction from the last 18 months includes 22,856 home-based antenatal care, identified 382 high-risk mothers, 1428 mothers have delivered their babies successfully and we onboard 300 mothers every month.
Beaniesnak Foods Pvt Ltd manufactures nachos from beans which will aid your health as well as taste benefits with exotic flavours. The key aim is to provide 5 benefits incorporated in one single snack (Healthy, tasty, filling, inexpensive, high-protein). They aim to replace the snacking habits of the customers who rely on processed foods like potato chips, and many fried snacks available in the market. This is the only brand in India that is currently making bean nachos and is a healthy alternative to corn nachos. It’s gluten-free, vegan & consists of proteins and fibres.
Gaurang Shetty, Chief Innovation Catalyst, riidl said, “Our startups are on track to empower millions by enabling access to affordable healthcare, sustainable food, Cleantech solutions for our environment and other impact-driven solutions. Their products have won national and international accolades and are getting good traction. We hope to support more early-stage entrepreneurs through our programs.”
riidl is a technology business incubator that supports the creation and incubation of early-stage companies from ideation to commercialization by providing them with resources, labs, government grants, investor connections, funding and mentorship.
Bioriidl has set up India’s First and only Do-It-Yourself Biolab, and a Bio-Incubator at riidl, an incubation cell for Biotechnology startups, working on projects in various stages of incubation from development stage to testing.
About Somaiya Vidyavihar University:
Padma Bhushan Karamshi Jethabhai Somaiya founded Somaiya Vidyavihar, an education trust in 1959, to provide quality holistic education. It was founded on the belief that education is an important pillar of nation-building with the power to change lives, and education must innovate to encourage the holistic development of youth. It is known as much for its Science, Technology, Engineering, Management, Social Sciences, and Commerce programs, as for its programs for academic studies in various faiths and cultures of India.
With over six decades of rich experience in building and managing educational institutes of great repute, Somaiya Vidyavihar has become a Private University in 2019, bringing all of its self-financing higher education institutions and the self-financing programs at the undergraduate and postgraduate level under one umbrella. The University was enacted by an Act of the Maharashtra State Legislature and approved by the University Grants Commission, Government of India.