Chiratae Ventures Invests In KBCols Sciences
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Indian leading venture capital firm Chiratae Ventures on Wednesday announced its seed investment in KBCols sciences via their Deeptech Innovators Program.
Others who participated in the round include Axilor Ventures and Derbi Foundation. KBCols will utilize the fund for commercialization of their offering across textiles, paints, consumer goods, beauty products, among other verticals.
What is KBCols?
Founded in 2018, KBCols has been extracting multiple colours from renewable and sustainable sources with an environment-friendly extraction process. Over the last century, there has been a significant increase in the use of synthetic colors. These colors have caused havoc in the environment time and again. However, KBCols with its cutting-edge technology through its alternative approach is using renewable energy to produce sustainable natural colors.
It is the 6th edition of the DeepTech Innovators program by Chiratae Ventures consolidating all the previous programmes for the seed and early-stage start-ups. This cohort saw participation from more than 250+ companies across various tech space.
Speaking on the announcement, Sudhir Sethi, founder and chairman, Chiratae Ventures, said, “We are excited by KBCol's very unique product offering in replacing eco-friendly chemical colors. Unique unique technology with a global market”.
Commenting on the announcement, Dr. Vaishali Kulkarni, founder and chief executive officer KBCols, said “As an early-stage startup we’re thrilled by the faith and excitement shown to us by incredible partners such as Chiratae, Axilor and Derbi. As an innovative technology-driven lifesciences startup, KBCols is deeply committed to reducing the load of carcinogenic and pollution causing chemical colors across industries. Through our approach, we hope to change the landscape of dyeing in the apparel industry as well as increase the use of natural colors in sectors such as beauty, foods, consumer lifestyle products and many other high-value product verticals. We envision ushering back the era of use natural colors and we now work towards coloring the whole world in a completely different but safer way.”
Launched in 2006, Chiratae Ventures India Advisors (formerly IDG Ventures India) has notable portfolio companies under its belt which include Bounce, Curefit, FirstCry, Flipkart, among others.