Proeon raises USD 2.4 million in seed funding

Pune-based food ingredient startup Proeon on Tuesday said it has raised USD 2.4 million (about Rs 17 crore) as seed capital.

The fresh funds will be used to accelerate growth, expand research and development capabilities.
The company will also set up a research lab in the Netherlands.

The funding round, led by entrepreneur Shaival Desai, also saw participation from Flowstate Ventures, Peak Sustainability Venture Fund I (executed by Samir Shah on behalf of the Fund), Waoo Partners (Pratul Shroff family office), and other angel investors.

Existing investor Sanjaya Mariwala, MD of OmniActive Health Technologies Ltd, also participated in this round.

“The funds will be utilised to enhance growth and set up a research lab in the Netherlands, Europe, filing IP, scaling up production and expanding the team,” the company said in a statement.

0

0