Genesis Geniuses : Stringing Together Minds and Molecules

The company was co-founded by Vinod Kumar and Dr. Ezhil Subbian, two brilliant minds with a shared vision. Dr. Ezhil Subbian, the CEO of String Bio, has a rich background in biotechnology. She holds a Ph.D. in Biochemistry and Molecular Biology from Rutgers University. Ezhil’s career spans over 15 years, with significant contributions to synthetic biology and metabolic engineering. Before starting String Bio, she worked in the U.S, honing her skills and building her expertise.

On the other hand, Vinod Kumar is the co-founder and managing director of String Bio. With a background in engineering and a deep passion for sustainability, Vinod Kumar has played a crucial role in shaping the vision of the company. Over the years, he has held senior leadership roles in global telecommunications and data networking companies, including Juniper Networks and Alcatel-Lucent.

The Birth of String Bio

The story of String Bio began with a simple yet powerful idea—how to use biotechnology to solve some of the world’s biggest challenges. Dr. Subbian and Vinod Kumar met in Bangalore and discovered they shared a common goal. They wanted to create something impactful, using their combined expertise in biotechnology and engineering.

The founding story of String Bio is rooted in their shared passion for sustainability. The duo saw the potential to transform waste into valuable products through biotechnology. This led to the establishment of String Bio in 2013, with a focus on creating sustainable solutions for global markets.

Biotechnology Market: A Thriving Landscape of Innovation and Investment

The global biotechnology market is booming! In 2023, the industry witnessed remarkable growth, reaching a value of $1,292.50 billion. It’s not just growing; it’s evolving, with cutting-edge technologies like CRISPR and synthetic biology transforming how we approach healthcare and environmental challenges​ .

Rapid Growth and Key Technologies 

The sector is expected to continue its upward trajectory, with projections estimating the market size to hit $6,189.90 billion in 2032 at a CAGR of 19%. This growth is fueled by the advancements in gene therapies and cellular treatments, with over 50 new therapies anticipated to launch next year alone​. (Expert Market Research)

Biotechnology is not just about medicine. It encompasses a range of technologies, including DNA sequencing and PCR, which are pivotal in diagnostics and research, pushing the boundaries of personalized medicine and complex biological assays​.

Global Influence and Investment 

This industry’s dynamism is backed by hefty investments, totaling billions annually, which underscores the confidence investors have in biotechnological advancements. In 2023 alone, venture investments reached $10.6 billion across 320 deals​. (MarketsandMarkets)

Regionally, North America leads the charge, thanks to substantial investments and a supportive regulatory environment that fosters innovation. Europe and Asia Pacific are also key players, with significant investments aimed at leveraging biotechnology to address everything from healthcare to climate change​.

Future Prospects: AI and Personalized Medicine 

Looking ahead, the integration of AI in biotechnology is set to revolutionize the sector further. AI’s role in enhancing drug discovery, diagnostics, and patient care is particularly notable, with companies using AI to dramatically shorten the drug development timeline​.

Mission Possible: String Bio’s Formula for a Greener Future

With a mission rooted in leveraging the power of biology, engineering, and chemistry, String Bio strives to create scalable solutions that address fundamental needs in food, feed, health, and the environment.

Vision for a Cleaner Future 

The vision at String Bio is clear: to foster a world where biotechnology enables cleaner and better ways of living. This ambitious goal drives the company to continually innovate and push the boundaries of what’s possible, aiming to solve some of mankind’s most pressing challenges through nature’s own solutions​.

Solving Real-World Problems 

One of the company’s primary objectives is to redefine how waste gases like methane and carbon dioxide are perceived and utilized. Through their patented fermentation technology, String Bio transforms these gases into high-performance products ranging from food to cosmetics, effectively turning waste into wealth. 

Business Model: Sustainability at Its Core 

At the heart of String Bio’s business model is a commitment to sustainability and cost-effectiveness. The company emphasizes that sustainability should be an integral part of production and consumption processes, not an afterthought. By focusing on innovative, market-relevant solutions that are both effective and affordable, String Bio ensures that its products not only meet but exceed the needs of today’s eco-conscious consumers.

From Gas to Food: String Bio’s Profitable Alchemy

String Bio has pioneered a breakthrough in biotechnology, transforming methane—a potent greenhouse gas—into high-value products. Their innovative approach is making waves across various sectors, from animal nutrition to human food systems and agriculture. Their patented fermentation technology is key, enabling them to produce a variety of high-performance products sustainably​.

Animal Nutrition: Sustainable Protein Sources 

String Bio’s animal nutrition products, such as PRO-DG and PROmeium, are at the forefront of sustainable feed solutions. These products are derived from methane through a proprietary fermentation process, resulting in protein-rich ingredients that are both eco-friendly and highly nutritious. PRO-DG, for example, is a high-quality protein feed ingredient with a robust amino acid profile, designed to meet the nutritional needs of various species. This approach not only reduces dependency on traditional feed sources like soy and fish but also contributes to lowering the environmental impact of animal farming.

Human Nutrition: Clean and Traceable 

In human nutrition, String Bio is making strides with alternative protein solutions. Their fermentation-based products offer a clean, traceable, and sustainable source of protein, suitable for a wide range of food applications. These ingredients are designed to be high in protein and low in fat, providing an ideal alternative to traditional plant and animal proteins. This is especially relevant as global demand for protein continues to rise, putting pressure on existing food systems​.

Agriculture: Enhancing Crop Production 

String Bio also targets the agricultural sector with innovative inputs that improve crop resilience and yield. Their products are designed to enhance soil health and boost plant growth, making them an integral part of sustainable farming practices. This is crucial in the context of climate change, where resilient crops are needed to ensure food security​.

Operations: Scaling Sustainable Solutions 

String Bio has successfully scaled its technology from lab experiments to commercial production. Their multi-purpose gas fermentation facility in Bangalore exemplifies this, capable of converting methane from natural gas and biogas into diverse products. This facility represents a significant step towards decarbonizing industrial processes while creating valuable outputs.

How String Bio Works: Cooking Up a Climate Solution

String Bio operates at the cutting edge of biotechnology, using a unique fermentation process to transform methane into valuable products. The company’s technology platform is built on the intersection of synthetic biology, chemistry, and process engineering. This multi-disciplinary approach allows them to efficiently convert methane—a harmful greenhouse gas—into proteins and other high-value ingredients​.

At the heart of String Bio’s operations is their patented gas fermentation technology. This process begins by capturing methane from sources like natural gas and biogas. The methane is then fed into a specially engineered microbial system that converts it into various biomolecules. These molecules serve as the building blocks for String Bio’s diverse range of products, including animal feed, human nutrition ingredients, and agricultural inputs​

String Bio’s technology not only offers a sustainable way to produce essential products but also helps reduce greenhouse gas emissions. Integral to their operations is the commitment to sustainability. String Bio’s methodologies and products are designed to align with Sustainable Development Goals (SDGs), pushing the envelope on what biotech can achieve in terms of positive environmental and societal impact.

Awards and Accolades: Stringing Along Success

String Bio’s groundbreaking work has not gone unnoticed. The company has received several prestigious awards that highlight its contribution to sustainability and innovation. Some of the notable awards include: (String Bio Awards)

• Economic Times Startup Awards (2023): String Bio was recognized as a Top Innovator, a testament to its pioneering efforts in the biotech space.
• Earthcare Award (2024): This award, presented by the Times of India, acknowledged String Bio’s significant contributions to environmental sustainability.
• Future Food Asia Award (2017): Acknowledging the company’s innovative approach in food technology, this award solidified String Bio’s reputation in the biotech industry.
• L’Oreal Innovation Runway (2017): Recognized for its cutting-edge technology, String Bio won this award in Singapore, further establishing its global footprint.
• GRAS Status in the U.S. In 2024, String Bio achieved a major milestone by obtaining the Generally Recognized as Safe (GRAS) status for its microbial protein, PRO-DG™, in the U.S. 
• Winner of the Nutreco Feed & Food Tech Challenge (2017): String Bio was honored for their advancements in feed technology, particularly in producing high-quality protein for animal nutrition. This award underscores their impact on the agricultural sector and their role in advancing sustainable practices​.
• DBT-BIRAC Award for Best Innovator in Biotechnology (2018): This prestigious award from the Indian government acknowledges String Bio’s significant contributions to biotechnology. It highlights the company’s innovation in converting methane into valuable products​.

Goldman Sachs Global Clean Tech 100 (2020): Being listed among the top 100 clean tech companies globally, String Bio has been recognized for its contributions to clean technology and sustainability. This recognition reflects their influence on the global stage and their potential to drive change in various industries​.

Better Together: Weaving a Network of Innovation

String Bio is not just innovating alone; they’re strategically partnering with major players to amplify their impact. These collaborations are pivotal, turning ambitious ideas into tangible, market-ready solutions.

Key Partnerships

1. Woodside Energy Group

String Bio has partnered with Woodside Energy to develop sustainable protein ingredients from greenhouse gases. This collaboration is backed by a significant investment as part of String Bio’s Series B funding. This partnership integrates Woodside’s expertise in energy to advance biotechnological applications aimed at decarbonization​.

2. Ankur Capital and Other Venture Groups

Alongside Woodside, String Bio has received backing from venture groups like Ankur Capital, Dare Ventures, Redstart, and Zenfold Ventures. These collaborations are crucial as they bring in diverse expertise and financial support, helping String Bio scale their technology from the lab to market-ready solutions​.

3. Global Methane Initiative: A Commitment to Sustainability 

String Bio is an active member of the Global Methane Initiative (GMI), an international partnership aimed at reducing global methane emissions. Through GMI, String Bio collaborates with other organizations and governments to develop and implement methane mitigation strategies. 

4. Collaborations in Agriculture and Animal Nutrition 

String Bio has also established partnerships in the agricultural and animal nutrition sectors. These collaborations are crucial for testing and validating the company’s methane-derived products, such as protein ingredients for animal feed and biostimulants for crops. 

5. Expanding Global Reach 

String Bio’s partnerships are not limited to India; they span across continents, reflecting the company’s global ambitions. Collaborations with organizations in Singapore, France, and the United States have been instrumental in introducing String Bio’s products to new markets.

Funding The Future: Cashing In On Greenhouse Gases

String Bio has demonstrated impressive growth and innovation, underpinned by significant financial injections through various funding rounds. Since its inception in 2013, the company has raised approximately $24.4 million across several funding rounds. (Traxcn)

Detailed Funding Rounds

1. Series B (July 11, 2022): String Bio raised $20 million with a post-money valuation of $229 million. This round was led by prominent investors such as Ankur Capital, Zenfold, and RedStart Labs, with significant contributions from corporate groups including Dare Venture Group and Woodside Energy​.
2. Seed Round (May 29, 2021): The company secured $2.1 million in seed funding, reaching a valuation of $27.8 million. Key investors included Ankur Capital and Seventure Partners, among others, demonstrating strong institutional and corporate backing.
3. Seed Round (March 22, 2019): Another seed funding of $2.3 million at a valuation of $27.0 million, supported by Seventure Partners and ONGC, highlighted early confidence in String Bio’s potential.
4. Grant (August 30, 2017): String Bio was awarded an undisclosed amount in prize money from Startup Karnataka, further supporting its early-stage development​.

Revenue Growth Trajectory

Financially, String Bio has demonstrated impressive growth. In FY 2022-23, the company reported revenues of ₹14.2 Crore, a significant increase from ₹0.7 Crore in FY 2021-22. This growth trajectory is evident from its humble beginnings in FY 2013-14, marking a steady rise in its financial and market development.

A Bright Future Ahead : Pioneering a Sustainable Revolution 

String Bio stands at the forefront of biotechnological innovation, turning greenhouse gases like methane into valuable, sustainable products. Through its groundbreaking work, String Bio is not just tackling environmental issues but is also paving the way for a new era in the biotech industry.

 Over the years, String Bio has demonstrated remarkable growth, both financially and in its market reach. With its commitment to innovation and sustainability, String Bio is well-positioned to continue its path of growth. The company’s efforts in expanding into new markets and enhancing its product lines promise exciting developments in the biotechnology landscape.

String Bio serves as an exemplary model of how innovative technologies can address critical global challenges. Hungry for more inspiring stories and insights? Head over to Venture Kites to explore a plethora of articles that can fuel your entrepreneurial spirit.