Intrinsic Foundries, a carbon-to-value biomanufacturing platform that transforms industrial carbon waste into premium biochemicals using proprietary microbial biorefinery technology, has raised ₹12 Crores (~$1.4M) in Seed funding led by Transition VC.
The company will deploy this capital to execute industrial pilots, expand research, and file IPs. Additionally it also plans to scale its engineering and commercial teams, strengthen manufacturing capabilities, and establish its US entity to support global market development.
Conventional carbon capture treats emissions as waste destined for storage, costing tens of millions with zero economic return. Intrinsic Foundries takes a fundamentally different approach, using nature’s most efficient biological systems to convert captured carbon into high-value biochemicals used across food, pharmaceutical, nutraceutical, cosmetic, agricultural, and advanced material industries—transforming emissions into essential product inputs and new revenue streams.
The company has developed a carbon biorefinery platform built on proprietary photobioreactor cultivation systems with integrated Factory 4.0 automation. Its first area of focus is microalgae-based biorefinery for industrial carbon emissions, while it continues to develop other microbial biorefineries including yeast-based systems. Intrinsic successfully completed a Proof of Concept at a thermal power plant last year, demonstrating extended continuous capture with operational reliability.
Speaking on the fundraise, Shreyansh Jain, Founder of Intrinsic Foundries, said,
“Carbon is not waste. It is a resource waiting to be transformed. The economics of carbon capture have been broken for decades because the industry has been trying to bury the problem underground. At Intrinsic, we are using nature-based biological systems to convert industrial emissions into the ingredients that go into your supplements, your food, and your skincare. This funding accelerates our mission to build a circular carbon economy where heavy industries become suppliers to the health and wellness sector.”
Founded in 2023, Intrinsic is headquartered in Hazaribagh, Jharkhand, within India’s core industrial corridor. The company maintains strategic R&D partnerships in the United States and Germany, bringing together process engineers, scientists, and automation specialists working at the intersection of biomanufacturing and industrial biotechnology. The founding team—Shreyansh Jain, Sanjay Jain, and Umang Jain—brings in experience across global pharmaceutical innovation, large-scale industrial operations, and enterprise technology strategy to build a scalable infrastructure for profitable decarbonization. Shreyansh Jain, a BITS Pilani and Cornell University graduate, brings a strong global pharmaceutical and process engineering background to the company.
“To achieve our net-zero goals by 2070, the focus needs to be on reducing carbon emissions from “hard-to-abate” sectors—steel, cement, refineries, and chemicals. The only feasible option to reduce emissions in these hard-to-abate sectors is Carbon Capture, Utilisation, and Storage (CCUS). But in the context of CCUS, adoption is constrained by unfavourable unit economics and higher capital expenditure (capex) costs. Intrinsic Foundries Technology helps capture CO2 from Industrial sources using microalgae in the upstream and convert it into high-value biochemicals. By utilising the captured carbon, Intrinsic Foundries’ technology platform generates high-value biochemicals for the Pharmaceutical, Nutraceutical, and cosmetic Industries. In the recent budget, India has committed ₹20,000 crore (~$2.4 billion) over five years to scale up Carbon Capture, Utilisation, and Storage (CCUS). This will rapidly advance CCUS, and we believe Intrinsic is well-positioned to capture a significant share of the market.”, said Shantanu Chaturvedi, Partner at Transition VC.
Additionally, Gaurav Patil, VP of Investments at Transition VC added, “For centuries, humanity has harnessed biological systems in fermentation and agriculture. Yet scaling them for industrial use has been constrained by slow kinetics and environmental sensitivities. Intrinsic solves this through industrial-grade strain development and modular reactor architecture, enabling reliable, large-scale deployments.”
Intrinsic is already advancing commercial engagement across cement, steel, pharmaceuticals, nutraceuticals, and food systems through partnerships with marquee industrial groups. This validates both technological feasibility and market demand for revenue-positive carbon utilization at industrial scale.
Over the next 12–24 months, the company plans to commission multiple industrial pilots and operationalize its first one-ton-per-day commercial plant. It will also expand its patent portfolio, generate cumulative revenues from pilots and biochemical products, and deepen international market access. In the longer term, Intrinsic aims to establish carbon-to-value biomanufacturing infrastructure as a foundational layer of global industrial decarbonization. The company seeks to demonstrate that emissions can power sustainable supply chains while delivering measurable economic return.
The Climate Guys, led by Swetabh Pareek, served as the Exclusive Transaction Advisor and Climate Ecosystem Partner to Intrinsic Foundries, playing a pivotal role in the successful execution of this transaction.
About Intrinsic Foundries
Intrinsic Foundries is a carbon-to-value biomanufacturing platform that converts industrial emissions, effluents, and residues into premium biochemicals using proprietary microbial biorefinery systems, modular photobioreactors, and integrated automation. The company enables scalable, revenue-positive decarbonization while supplying sustainable ingredients and materials across multiple global industries.
About Transition VC
Transition VC is India’s first energy-transition focused venture capital fund, founded by Raiyaan Shingati and Mohammed Shoeb Ali. The firm invests early, catalytic capital into the future of energy in India, backing engineering-led companies building the infrastructure for the transition via electrification, energy storage, industrial decarbonisation, alternate fuels, and next-generation manufacturing. With a thesis grounded in first-principles engineering, an energy-demand × energy-supply lens, and a portfolio architecture for complementary pull with shared customers, shared suppliers, and shared talent rather than a scatter of unrelated bets.
