Bayir Group, the parent company of the newly launched North American division Bayir, Inc., recently announced two rounds of B Series funding, totalling $2.45 million to be allocated for future expansion of the business
Bayir Group anticipates an additional $1.42 million in funding in the near future for capital growth.
“Bayir Group’s offering is well-timed with the increasing demand for high-quality ingredients within the natural products industry. We are confident that Bayir Group, with its robust product portfolio, will capture a good market share in a short time."
"We are excited to support them through the growth journey,” said Rajesh Srivastava, Chairman and Managing Director of Rabo Equity (subsidiary of Rabobank). Rabo Equity Advisors is the investment advisor for Bayir’s Private Equity Funds.
The Bayir Group, which consists of BeloorBayir Biotech, Bayir Extracts and Bayir, Inc., has grown during the course of 35 years to a $20 Million business with more than 500 customers.
Its newly launched US division, Bayir, Inc., will serve as the domestic manufacturing arm for the dietary supplement, functional food and beverage, and nutraceuticals industries.
Bayir, Inc will continue to actively support the “Bayir Gold” programme, which enforces a top-level priority on the accountability and traceability of its ingredients.
“The goal of the Bayir Gold programme and the Bayir Group in general is to uphold a higher standard of quality, safety and accountability in the ingredient marketplace,” said B.G. Bairy, Chairman and Managing Director of the Bayir Group.
“This capital provides us with the additional resources to expand quickly and strategically in the US market, continue with innovation on a global level, and deliver on our vision to provide greater confidence in the marketplace.”
Part of the new funds will be used to support operation of a fermentation facility in Pune, India, which will be geared specifically towards production of thiocolchicoside.
Bayir has developed and patented an in-house fermentation method to produce thiocolchicoside among its wide array of premium quality ingredients.
The company maintains nine manufacturing facilities worldwide with specialties including bacopa, glucosamine, chondroitin, organic extracts, and a wide range of botanicals such as garcinia and curcumin.
“Whereas the newest round of B series funding will enable us to aggressively grow the business and increase product development, we will remain laser focused on providing the same quality ingredients that we’ve always strived to deliver,” said Sendhil Pani, Bayir’s President.