Avesthagen to raise $1.6 m for Aquas
By siliconindia staff writer   |   Monday, 08 March 2004, 20:30 IST
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HYDERABAD: Avesthagen Gengraine Technologies is planning to raise resources to the tune of $1.6 million for its joint venture company Aquas which is into labelling of GM foods. Dr Villoo Morawala-Patell, founder and CEO, Avesthagen, said: “Attempts are on to raise $1.6 million. We are in talks with a cross-section of VCs for garnering funds.” Avesthagen had earlier raised funds from ICICI Ventures, Tata Industries, and Global Trust Bank, to the tune of $5 million in two phases. The company would be signing up a firm agreement with Icrisat this month. The activities of Aqua involve GMO testing of food and food products, GMO certification, microbial and chemical testing of food products.

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