Indian sustainable packaging startup Bambrew has secured Rs90 crore ($10.3m) in a recent funding round.
The investment was spearheaded by Ashok Goel, previously managing director at Essel Propack. Japanese venture capital group ENRISSION INDIA CAPITAL also participated in the funding round.
Serving more than 500 clients, including Shoppers Stop, Puma, and Global Desi, Bambrew plans to use the funds to enhance production twofold and expand into North America and the Middle East.
Bambrew founder Vaibhav Anant stated that the capital will advance research and increase manufacturing to phase out plastic globally.
The company focuses on replacing plastic with sustainable materials such as bamboo fibre, seaweed, agricultural waste, and recycled paper.
Its products are claimed to be home-compostable, serving as an ideal alternative to single-use plastics.
The company’s range includes garment bags and recyclable films to substitute aluminium laminates.
Bambrew co-founder Kunal Prasad noted plans to develop new products and bolster operations within the next year.
Operating in the B2B sector, Bambrew also intends to enter the D2C market. This move will enable consumers to access the company’s sustainable packaging for home use.
Last April, Bambrew secured nearly $7.19m in equity and debt through a Series A funding round.
The company also said it plans to expand its team to support its aforementioned initiatives.
“Bambrew secures $10.3m in funding to boost eco-friendly packaging” was originally created and published by Packaging Gateway, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
