Zaara Biotech raises $10 million from the UAE-based TCN International Commerce

A student based start-up from Kerala, Zaara Biotech, will be funded by UAE-based TCN International Commerce LLC for their project titled ‘Algae-Seaweed Technology’. The start-up will receive $10 million (Rs 72.49 crore) from TCN International for research and development, production, distribution and marketing.

Zaara Biotech focuses on research in energy and food crisis using micro-algae. This start-up was fostered under the Innovation and Entrepreneurship Development Centre (IEDC) scheme of Kerala Startup Mission (KSUM).

According to a news report, Najeeb Bin Haneef, Founder and CEO of Zaara Biotech, and Mohamed Shafi Abdulla, Chairman and Managing Director of TCN International Commerce, signed the MoU for this.

The company was founded by Haneef when he was a biotechnology engineering student at Sahrdaya College of Engineering and Technology in 2016.