India, July 31 -- Specialty food and nutraceutical ingredients startup Arboreal Bioinnovations has raised Rs.230 Cr (about $24 Mn) in a Series A round co-led by EAAA Alternatives and Omnivore, with participation from existing investor Rainmatter by Zerodha.

The Lucknow-based startup plans to deploy the fresh capital to expand its manufacturing capacity, strengthen R&D capabilities, and accelerate the commercialisation of its next generation of functional ingredients.

Founded in 2018 by Swati Pandey and Manish Chauhan, Arboreal Bioinnovations develops proprietary functional ingredients for food, beverage and nutraceutical brands. Its portfolio spans proteins, cocoa-based ingredients, natural zero-calorie sweeteners and functional fibres,...