IIT alumni-founded Loopworm raises $3.4 mn in seed funding round

Agri-biotechnology firm Loopworm has raised $3.4 million in an early-stage seed funding round. The round was led by Omnivore and WaterBridge Ventures and saw participation from Titan Capital and other angel investors. Founded in 2019 by IIT Roorkee graduates Ankit Alok Bagaria and Abhi Gawri, Loopworm upcycles food waste into protein-rich nutrients and value-added ingredients using insect farming.