Loopworm Secures $3.25M for Silkworm-Based Protein Production
Loopworm, a Bengaluru-based biotech startup, has secured $3.25 million in a pre-Series A funding round. The investment will support the commercialization of its silkworm-based protein production platform. Co-led by WaterBridge Ventures and ENRISSION INDIA CAPITAL, this round follows Loopworm's $3.4 million seed funding in 2021.
Founded in 2019 by IIT-Roorkee alumni Ankit Alok Bagaria and Abhi Gawri, Loopworm operates a 6,000-tonne-per-year insect processing facility. The startup supplies insect-derived proteins and lipids for aquafeed and pet nutrition across multiple continents. Its platform also targets diagnostics and animal vaccines with faster go-to-market timelines.
Loopworm's unique approach involves using silkworms as 'living bioreactors' to produce complex recombinant proteins. This method is more sustainable and cost-effective than traditional methods. The company has previously raised funds from Omnivore and now welcomes WaterBridge Ventures and ENRISSION INDIA CAPITAL as new investors.
With the new funding, Loopworm aims to accelerate the commercialization of its innovative protein production platform. Ashish Jain of WaterBridge Ventures praised Loopworm as a shining example of India's potential in the global biotech industry.
