Intrinsic Foundries, an Indian biomanufacturing startup that converts industrial carbon emissions into biochemicals, has raised INR 12 crores (USD 1.4 million) in seed funding led by Transition VC.
The Jharkhand-based company has a refreshingly different take on carbon capture. Rather than storing emissions underground at significant cost, it uses microbial systems, starting with microalgae, to convert captured carbon into ingredients used in food, pharmaceuticals, nutraceuticals and cosmetics. The company completed a proof of concept at a thermal power plant last year, demonstrating reliable, continuous carbon capture in real industrial conditions.
Founder Shreyansh Jain framed the opportunity plainly. “Carbon is not waste. It is a resource waiting to be transformed,” he said, adding that the funding would accelerate Intrinsic’s mission to build a circular carbon economy where heavy industries supply the health and wellness sector.
Transition VC partner Shantanu Chaturvedi pointed to favorable policy tailwinds, noting that India recently committed INR 20,000 crore over five years to scale carbon capture, utilisation and storage. He said Intrinsic is well positioned to capture a meaningful share of that market.
The fresh capital will fund industrial pilots, IP filings, team expansion and the establishment of a US entity to support international growth. The company plans to commission multiple pilots and operationalise its first one-ton-per-day commercial plant within 12 to 24 months.
Founded in 2023, Intrinsic maintains R&D partnerships in the United States and Germany, and is already in commercial discussions with partners across cement, steel and life sciences sectors.
