India, July 2 -- Biotech startup Loopworm has raised $3.3 Mn (about INR 28 Cr) in its pre-Series A funding round co-led by existing backer WaterBridge Ventures and Japanese VC firm Enrission India Capital.

The Bengaluru-based startup will use the fresh proceeds to kick off the production of recombinant proteins (more on this later) and set up a new commercial facility for recombinant protein production.

In a statement, it also said that a chunk of the capital will be utilised to strengthen its R&D capabilities and global patent portfolio. Besides, Loopworm plans to validate its product and secure regulatory approvals and certifications to operationalise the new unit. "This would accelerate global sales for our existing and new products,...