Team Startupcity

• Genexis Biotech raises Rs 4 Cr seed funding led by GVFL and Benzai10
• Funds to scale bioreactor capacity, downstream infra & smart protein portfolio
• Aims to become India's deeptech hub for animal-origin-free recombinant proteins
Genexis Biotech, a bio-manufacturing startup from Vadodara, has raised Rs 4 crore in a seed investment round led by GVFL, with further involvement of Benzai10. The firm has expertise in the production of animal-origin-free recombinant proteins via recombinant technology and precision fermentation.

The new capital will be applied to increase bioreactor capacity, reinforce downstream processing, and commercialize a series of smart proteins and recombinant enzymes. The financing will also fund improvements in quality control, regulatory compliance, and sales and distribution networks expansion.

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Established in 2019 by Jitendra Wagh and Vipul Kumar, Genexis runs a certified Class 10,000 cleanroom unit and is on the way to establishing a GMP-approved unit for tapping into the regulated biotech export business.

"At Genexis Biotech, we are establishing India's deeptech infrastructure for the production of animal-origin-free proteins," co-founder Kumar said. "This seed round is a key milestone and will enable us to grow faster and pursue sustainable innovation in the areas of healthcare, food, and bio-industrial sectors."

GVFL's Managing Director Mihir Joshi further commented,

Genexis is filling an important gap in India's biotech value chain by making scalable, high-quality animal-free protein manufacturing possible. Their R&D strength and facilities provide them with a competitive advantage in fulfilling increasing demand in biopharma, food-tech, and life sciences.

Genexis has already forged collaborations with pharma firms, biotech firms, and academic organizations. It has signed an MoU with the Gujarat government in 2023 for scaling up recombinant protein production and also exhibited its innovations at Global Bio India 2024.

Future plans involve the formulation of encapsulated growth factor products for cosmetics and working in collaboration with contract development and manufacturing firms (CDMOs).

GVFL, Ahmedabad-based, is among India's longest-standing venture capital firms with more than 100 portfolio companies and several successful exits. It still invests in industries such as healthtech, fintech, clean tech, enterprise tech, and now more and more deeptech and biotech.