[Funding alert] Superfood startup Prolgae raises $200K in a seed investment round
Prolgae Spirulina, manufacturer and seller of superfood spirulina to various food and medical industries in the country, has raised $200K in a seed funding round from angel investor Vijayan. With this investment, the company plans to increase its production capacities by three times and also roll out new products.
"We are going to increase our monthly production from 500 kilogram to 1500 kilogram by adding some new spirulina production ponds," said Aakas Sadasivam, the founder of the company.
The company is also planning to roll out new spirulina-based food and beverages in 2022. It has also launched spirulina-based protein bars, sweets and more in three flavours recently.
Prolgae Spirulina's pilot pond in Chennai
In 2015, Aakas, an aeronautical engineer from Kumaraguru College of Technology, Coimbatore, Tamil Nadu, was taken by the startup fever. Looking for ideas to venture in, he came across reports of malnutrition, a concern in India and Africa. In his research, Aakas found out that Spirulina can help solve malnutrition.
"Five grams of Spirulina is equivalent to five kilograms of assorted vegetables. The superfood contains 63 percent protein, 12 vitamins, eight minerals, along with high antioxidants. It is also a good immunity booster," says the founder.
In 2016, Aakas started growing and harvesting Spirulina from a ‘pilot pond’ in a small area in Chennai. For one year, he grew and harvested Spirulina on his own, learning the techniques for making the powder, which is the end product. It has clients in different parts of the world including the US, Europe, Canada and more.
In 2019, the company raised $100,000 from a Slovakian angel investor. The company also has a European Union organic certification from the Control Union (CU).
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