MicroBite has raised $1.5 million from Vijay Madduri, the ISL (Indian Super League) winning Hyderabad Football Club’s co-owner and other angel investors.
The startup will deploy the Pre-Series A funds to establish a bioethanol plant that utilizes its proprietary ‘counter-flow multistage extractive fermentation’ technology in producing bioethanol with improved chemical kinetics. The startup also aims to further its R&D findings for the extension of this technology to other potential applications such as beverages, active pharmaceutical ingredients, and bioplastic industries.