Que: What made Lemnisca stand out as a compelling pre-seed investment for Theia Ventures?

Ans: Lemnisca stood out for its AI-native approach to fermentation, which fundamentally redefines how biomanufacturing processes are designed, scaled, and optimised. From day one, microbial engineering at Lemnisca is tightly integrated with predictive digital process models that simulate fermentation performance across different scales before entering pilot or commercial stages. This deep coupling between wet-lab experimentation and computational modelling accelerates product development cycles by nearly 2x while also lowering cost of goods by more than 30 percent at launch scale.

Every fermentation run generates structured and high-resolution data that feeds back into Lemnisca’s models, continuously improving accuracy and creating a self-reinforcing and defensible data advantage. By combining this AI-driven development engine with a modular commercialisation strategy, Lemnisca is building a platform that improves with every experiment. The outcome is a level of scalability, cost efficiency and technical differentiation that is difficult to replicate without long-term access to both high-quality experimental data and full-stack fermentation design capabilities.

Que: What gaps do you see in India’s early-stage deep tech ecosystem that Theia aims to address through such investments?

Ans: India’s early-stage deep tech ecosystem is rich in scientific talent and breakthrough ideas, but many ventures struggle to bridge the gap between laboratory innovation and commercial deployment. Early deep tech founders often lack access to patient capital, specialised infrastructure, and industry partnerships that are essential for scaling complex technologies.

By investing at the pre-seed and seed stages, Theia Ventures aims to address this gap by supporting founders who are building globally competitive technologies across biomanufacturing, climate tech, materials innovation, and frontier AI. Theia’s goal is not only to provide early capital but also to create an enabling environment where long-term research-driven companies can thrive. This includes helping startups navigate technical scale-up, find the right commercial partners, and build business models that can succeed on the global stage. Through such investments, Theia hopes to act as a catalyst for India’s deep tech ecosystem, ensuring that more breakthrough technologies move beyond the lab and into real-world applications that create meaningful economic and environmental impact.

Que: What KPIs or impact metrics does Theia prioritise when assessing companies in the decarbonisation and energy-transition space?

Ans: Theia evaluates companies in the decarbonisation and energy-transition space through a combination of quantitative and qualitative metrics, with reduction in emissions serving as the primary north-star indicator. However, the specific KPIs depend on the nature of the technology and where it sits within the broader value chain.

Across sectors, Theia focuses on understanding how a solution can improve efficiency, reduce environmental impact, and create long-term systemic benefits. This includes assessing potential reductions in carbon footprint, resource consumption, waste generation, and energy intensity, along with improvements in supply-chain resilience and sustainability. The emphasis is on technologies that create measurable climate outcomes while also demonstrating clear pathways toward commercial scalability.

By grounding investment decisions in both impact and viability, Theia aims to back companies that can deliver meaningful climate benefits alongside strong business fundamentals.

Que: How does Theia plan to support Lemnisca beyond capital—product strategy, customer introductions, global partnerships?

Ans: For Lemnisca, Theia Ventures will operate as both an investment partner and a strategic advisor. The fund will work closely with the founding team to refine product strategy, ensuring that Lemnisca’s AI-native fermentation platform is aligned with market needs, scalable technical pathways, and high-value customer use cases. This includes structured support on experiment-to-commercial translation, prioritisation of product verticals, and establishing clear milestones for the first years of development.

Theia’s corporate network will play a key role in enabling Lemnisca to engage with potential customers and commercial partners from the earliest stages. These introductions help accelerate pilot discussions, validate demand across target industries, and shape the company’s go-to-market approach based on real-world requirements.

In parallel, Theia will assist Lemnisca in building a strong operational foundation. This includes helping the founders recruit key early hires, designing an organisation suited for long-horizon deep tech development, and providing guidance through experienced venture partners who have scaled similar technology-first companies.

With Theia’s global relationships, Lemnisca will also gain access to international research partners, industry platforms, and innovation ecosystems that can amplify its visibility and enable strategic collaborations. The objective is to give Lemnisca the support structure needed to advance its technology, deepen customer engagement, and position itself as a globally competitive biomanufacturing platform.

Que: Does Theia anticipate deploying more capital into Lemnisca, biomanufacturing, or renewable-feedstock technologies in the coming years?

Ans: Yes. Over the coming years, Theia intends to invest in 18 transformative startups focused on addressing the most critical challenges confronting industry, sustainability, and the broader environment. The goal is to support technologies that can drive meaningful and scalable impact.