Omnivore launches OmniX Bio to support agri-food life sciences startups
Omnivore has launched its OmniX Bio initiative to back early-stage agri-food life science start-ups. The programme will support Indian entrepreneurs who are working in agricultural biotechnology, novel farming systems, bioenergy and biomaterials as well as innovative foods. Omnivore also disclosed the first investment under the OmniX Bio initiative: BioPrime, which is developing biological crop inputs that enhance yields without harming the environment or the health of farmers and consumers.
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Venture capital (VC) firm Omnivore announced on December 20 the launch of its OmniX Bio initiative to back early-stage agri-food life science start-ups. The programme, says the Omnivore press release, will support Indian entrepreneurs who are working in agricultural biotechnology, novel farming systems, bioenergy and biomaterials as well as innovative foods, including alternative protein.
Despite being the third most active start-up ecosystem in the world, India’s progress in agri-food life sciences has stalled over the past two decades. Innovations in synthetic biology, chemistry and biotechnology are critical for the future of Indian agriculture and food systems, which will soon bear the full brunt of climate change. Agri-food life sciences can play a critical role in tackling both climate mitigation and climate adaptation as well as other agricultural sustainability challenges.
OmniX Bio will provide venture funding, mentorship from global agri-food life sciences leaders, institutional partnerships, and business development support to access domestic and export sales channels. While all members of the Omnivore team will support OmniX Bio, a PhD life scientist will join the investment team in 2022 to oversee the initiative and help develop the agrifood life sciences ecosystem across India.
Omnivore also disclosed the first investment under the OmniX Bio initiative: BioPrime, which is developing biological crop inputs that enhance yields without harming the environment or the health of farmers and consumers. The BioPrime team has spent the past few years building SNIPR (Smart Nanomolecules Induced Physiological Response) and BIONEXUS.
SNIPR is a discovery platform that identifies innate immunity or natural defence mechanisms in plants, curates unique traits, and delivers tailored crop input formulations.
BIONEXUS is India's largest trait-modifying, plant-associated microbe collection. Changes in the diversity of microbiota can confer upon the plants acquired traits like drought tolerance, disease resistance, and enhanced yields, to name a few.
BioPrime was founded in 2016 by Dr Renuka Diwan, Dr Amit Shinde, and Dr Shekhar Bhosale, who met while earning their doctorates from the University of Pune.
Renuka Diwan, Co-Founder and CEO of BioPrime, said, “At BioPrime we are focusing on discovering fundamental aspects of plant communication, identifying new biomolecules and new modes of modulating plant responses…. With Omnivore joining us in this journey we are confident of building BioPrime to be a global player in ag-biotech and achieve our goal of a world where good yield is not a gamble but an assurance.”
Mark Kahn, Managing Partner of Omnivore, commented, “We are excited to launch OmniX Bio to help reboot the agri-food life sciences ecosystem in India.”
