CrisprBits Raises USD 3 Mn in Pre-Series A Round Led by Spectrum Impact Existing investor Vijay Alreja Family Office of VJ Technologies Group participated in the round along with new investors from the promoter family of HBL Engineering.
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Bengaluru-based biotechnology startup CrisprBits has raised USD 3 million in a Pre-Series A round led by Spectrum Impact, the family office of Rajendra Gogri, Chairman and Managing Director of Aarti Industries.
The funding takes the company's valuation to USD 12 million. Existing investor Vijay Alreja Family Office of VJ Technologies Group participated in the round along with new investors from the promoter family of HBL Engineering.
The company had earlier secured capital from its founders, VJ Technologies Group and C CAMP.
CrisprBits will use the new investment to scale commercialisation of its PathCrisp molecular diagnostics platform and expand manufacturing for tests in human health, food safety and animal health. It is also developing a CRISPR based strain engineering platform aimed at improving biofuel production processes.
Founded by Vijay Chandru, Sunil Arora, Rajeev Kohli, Bharat Jobanputra and Aditya Sarda, the startup operates a 7,300 square foot CRISPR research and prototype development facility in Bengaluru. Its platforms include PathCrisp for diagnostics, EdiCrisp for gene editing and strain engineering and CurieCrisp for preclinical and rare disease therapeutics.
Over the next 6 months, the company plans to take its diagnostic products into global markets such as Africa and Latin America and enhance capacity at its manufacturing facility.
