Zaara Biotech bags USD 10 million investment from UAE
Kochi: A student biotech startup has bagged an investment of USD 10 million from UAE-based TCN International Commerce L.L.C for its project ''AlgaeSeaweed Technology'' under the brand B-lite Cookies.
Fostered under the Innovation and Entrepreneurship Development Centre (IEDC) scheme of Kerala Startup Mission (KSUM), the startup''s product was showcased in the GITEX 2020 international conference held in Dubai, a press release from KSUM said on Saturday.
The student startup was part of the international startup delegation led by KSUM. Zaara Biotech, which focuses on research in energy and food crisis using micro-algae, got the funding for its research and development, production, distribution and marketing under TCN International Commerce to reach the global arena.
Najeeb Bin Haneef, founder-CEO of Zaara Biotech, and Dr Mohamed Shafi Abdulla, Chairman and Managing Director, TCN International Commerce L.L.C, signed a memorandum of understanding (MoU) in this regard in Sharjah on Saturday.
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