The Arboreal Series A fundraise of ₹230 crore has closed, with Khaitan & Co and JSA Advocates & Solicitors acting as legal counsel on one of the largest Series A transactions in India’s specialty food ingredients sector. The round was co-led by Discovery Fund II (EAAA Alternatives) and Omnivore, with participation from Rainmatter by Zerodha, and involved both primary subscription and secondary share acquisitions.
Introduction
Arboreal Bioinnovations Private Limited raised ₹230 crore in a Series A fundraise led by Discovery Fund II (EAAA Alternatives) and Omnivore, with participation from Rainmatter by Zerodha. As part of the transaction, Rainmatter, EAAA Alternatives and Omnivore also acquired a minority stake through secondary share purchases from certain existing shareholders.
Arboreal operates an integrated technology platform that brings together ingredient engineering, process research and development, formulation science, and precision manufacturing. Its portfolio includes next-generation proteins, sugar-reduction solutions, cocoa-based ingredients, natural zero-calorie sweeteners, functional fibres, and nutraceutical actives. The company serves the food, beverage, and nutraceutical industries.
Deal Value
Arboreal Bioinnovations Private Limited announced the close of its ₹230 crore Series A funding round, co-led by EAAA Alternatives, the alternatives arm of Edelweiss, and Omnivore.
Legal Teams Involved
Khaitan & Co — Counsel to Arboreal Bioinnovations
Khaitan & Co advised Arboreal Bioinnovations on this fundraise. The firm’s scope of work involved negotiations, marking up, finalisation and execution of transaction documents, and closing of the transaction.
The transaction team comprised:
- Hardik Bhatia — Partner
- Nishant Chris Mathews — Principal Associate
- Rhythm Chopra — Senior Associate
- Insaf Ahamad T K — Associate
JSA Advocates & Solicitors — Counsel to EAAA Alternatives and Omnivore
JSA Advocates & Solicitors advised EAAA Alternatives and Omnivore on this fundraise, on both the primary subscription and the associated secondary acquisitions from existing shareholders.
The transaction was led by Siddharth Mody (Partner), with Anurag Shrivastav (Partner), with support from Esha Himadri (Senior Associate), Associates Gavin Pereira and Damini Chouhan.
Due diligence was conducted by Anurag Shrivastav (Partner), Tanmayee Sahoo (Senior Associate), Associates Gavin Pereira and Prakhar Jain.
Significance and Impact
The fundraise represents one of the largest Series A transactions in India’s specialty food ingredients sector. The deal is also the first investment to come out of EAAA Alternatives’ Discovery Fund II, which closed recently at more than ₹1,200 crore.
The transaction’s dual structure — combining a primary subscription with secondary share acquisitions by all three investors — reflects the complexity of the mandate and the maturity of the investor consortium. Both legal teams managed multi-party coordination across primary and secondary components simultaneously.
Arboreal Bioinnovations will deploy the capital to expand its manufacturing capacity, strengthen its research and development capabilities, and accelerate the commercialisation of its next generation of functional ingredients. The fundraise positions the company to deepen its science-led innovation pipeline and expand its reach across global food and nutraceutical markets.
The successful close of Arboreal Bioinnovations’ ₹230 crore Series A fundraise underscores growing institutional interest in India’s specialty food ingredients space. Khaitan & Co, led by Hardik Bhatia, acted for the company, while JSA Advocates & Solicitors, led by Siddharth Mody and Anurag Shrivastav, acted for the investors EAAA Alternatives and Omnivore. For a running tracker of major Indian legal deal mandates, see the Deal Meter.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
