GreenGrahi, Paramount Services secure fresh funding to drive expansion

Biotech startup GreenGrahi and AI-driven insurance claim platform Paramount Services have raised early-stage funding, the companies announced on Thursday. 
 
GreenGrahi 
Biotech company GreenGrahi, which specializes in insect-based alternatives to conventional animal feed and chemical agricultural inputs, has raised Rs 32 crore (about $3.8 million) in seed funding, led by Avaana Capital. The round also saw participation from existing investors Huddle Ventures, Campus Fund, Blume Founders Fund, and angel investors. 
 
The company plans to use the funds to establish a Black Soldier Fly (BSF) bio-factory capable of processing 150 tons of feedstock per day. With a current annual demand of Rs 510 crore for its products, the company also aims to expand its scientific team and enter international markets, including the US, UK, and EU. 
 
Founded by Shivali Sugand and Siddharth Sharma, it develops high-quality insect proteins, oils, and hydrolysates for use in fish, poultry, and pet feed. These offer better nutrition and more stable pricing compared to conventional feed. 
 
The company also produces new innovative biological solutions for agriculture, such as biofertilizers that enhance soil and plant health while reducing chemical dependency. 
 
Paramount Services 
Paramount Services, a digital-first claims-as-a-service (CaaS) platform leveraging AI, has secured Rs 2.5 crore in its first institutional funding round. The investment comes from multi-stage VC firm Fivolve. 
 
The company plans to use the funds to further develop its proprietary software, enhance its digital claims management solutions, and expand its footprint across insurance providers in India, according to a statement. 
 
The company was founded in 2018 by Vikas Srivastava.