UAE's TCN International invests $10 million in India-based Zaara Biotech
Source: Business Line
Zaara Biotech, a student biotech startup fostered under the Innovation and Entrepreneurship Development Centre scheme of Kerala Startup Mission, has bagged an investment of $10 million from the UAE-based TCN International commerce LLC for its project, entitled “Algae –Seaweed Technology,” under the brand B-lite Cookies.
The biotech startup’s product was showcased in the GITEX 2020 international conference held in Dubai as the 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 and CEO of Zaara Biotech and Mohamed Shafi Abdulla, Chairman and Managing Director, TCN International Commerce LLC, signed a MoU in this regard in Sharjah.
Zaara Biotech was founded by Haneef when he was a biotechnology engineering student of Sahrdaya College of Engineering and Technology in 2016.
The biotech startup, which was incubated in Sahrdaya Technology Business Incubator, has collaboration with CIFT and it has helped the company to become India’s first algal-seaweed food product designer.