Proklean Technologies raises $4 million from Raintree Family Office
Summary
Proklean Technologies, a Chennai-based company that uses probiotics for various industrial applications, on Thursday announced a fundraise of $4 million from Raintree Family Office LLP.Raintree Family Office was established by Leena Dandekar, Abha Dandekar and Vivek Dandekar with the objective of investing in portfolios promoting innovation in climate solutions, sustainability and responsible consumption.Established in 2012, Proklean has developed a proprietary technology using a unique combination of probiotics with fermentation and formulation methods. Proklean uses probiotic microorganisms along with other renewable raw materials to make products that are non-toxic and biodegradable. Its products are used in textiles, leather, hospitality & waste management and paper industries.Probiotics refers to good bacteria that are often used in food production processes such as yogurt, cheese and pickles.The company recently started exports to South-East Asia and West Asian countries. The company also has a range of green products for home care use, which reaches the consumer via e-commerce platforms and modern retail stores in Chennai.The company said that the fundraise will expand its R&D efforts by setting up a new Innovation Centre and expanding its R&D team. The company also aims to scaling up existing businesses both domestically and in export markets .Since inception, Proklean Technologies has raised $5 million from various investors including Siana Capital, Infuse Ventures, The Chennai Angels.